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region is 2,065,763 people, at $1.12 per capita, this equates to $2,316,768 or $2.3 million for clarity. To utilize the $5.38 million, a new CARES Act RLF Plan will be established by the SFRPC, which will predominantly follow their existing RLF Plan but with added flexibility to their underwriting parameters to help. small businesses impacted by the Coronavirus Pandemic. If our application to the EDA is successful, the $2.3 million requested will be added to the CARES Act RLF and pooled with the $5.38 million for loans across the SFRPC and TCRPC regions. As an expansion of the existing SFRPC RLF program, it is expected that the existing SFRPC staff which administers their RLF will continue to do so. In order to serve the entire Treasure Coast region, TCRPC staff will assist in promoting the RLF and identifying potential applicants along with our partners in the economic development organizations in each county. SFRPC staff will make themselves available in the region as necessary to meet with potential applicants and otherwise administer the loans. Funding The U.S. Economic Development Administration has made new funding available to communities for potential projects that prevent, prepare for, and respond to coronavirus, including for necessary expenses for responding to economic injury as a result of coronavirus. This funding can be used to help communities catalyze public-private partnerships that will support economic recovery. The EDA CARES Act funding requires a 20% match (compared to the usual EDA 50% match), therefore to bring this new funding to the region, the newly served areas would need to provide 20% of the loan funds matched by 80% in EDA funds. These amounts would be $460,000 in local (non-federal) match funds and $1,840,000 in EDA (federal) funds. Using population to apportion this money, Martin and Indian River counties would each need to contribute 25% (i.e. $115,000) and St. Lucie County would need to contribute 50% (i.e. $230,000) on a one-time basis after which the loan program would continue to operate without further funding being necessary. Under certain conditions, EDA's regulations provide discretion to establish a maximum EDA investment rate of up to 100% for certain projects. In consultation with our EDA representative, it does not appear that this re -capitalization of funds will be eligible for the match exemption. Matching funding provided by each county and the associated EDA funds will be managed internally to ensure that at least that amount is made available for loans within that county, with the potential for more loan funds to be available from the pool. Comprehensive Economic Development Strateav (CEDS) Plan Consistenc Innovation & Economic Development Objective: Promote innovation and competitiveness, preparing the region for growth and success in the worldwide economy. Business Climate & Competitiveness Objective: Create a business climate supportive of existing industries and welcoming of new ones. 7