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Find similar grantsEconomic Development Program is sponsored by Maine Dept. of Economic & Community Development. Home Repair Network <a href="/decd/community-development/cdbg-progr Category: Economic Development.
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Economic Development Program | Department of Economic and Community Development Economic Recovery Grants Information HERE Office of Community Development → Economic Development Program → Economic Development Program Project Development and Forms Municipal Tax Increment Financing Brownfield Revolving Loan Fund Program Economic Development Program The Economic Development program (EDP) provides communities with gap funding to assist identified businesses in the creation/retention of jobs for low- and moderate-income people.
a) Grants to Municipalities for Direct Business Support: working capital and capital equipment purchase Acquisition, and any type of construction or renovation is not an allowable activity. Applicants may apply on behalf of only one business. EDP funds cannot be used to refinance existing debt.
All EDP activities must be in support of an identified business; speculative activities are excluded. Communities may not apply on behalf of a business that has received prior CDBG EDP funding. * Waivers to increase the maximum grant award amount, in instances where the impact of the project is substantial and can be documented, must be approved by the Director of the Office of Community Development.
All projects must document that at a minimum, 51% of all jobs created or retained because of the funded activity must be taken/held by people of low and moderate income as defined by HUD. Jobs created/retained must be in the community applying for the EDP award. If job creation requirements are not met, the applicant community will be responsible for immediate repayment to DECD of all CDBG funds expended on the project.
4. Program Dollars per Job: The maximum CDBG participation per job created or retained with EDP funds is $30,000. Please see the current Program Statement for further program information.
According to the current listing, eligibility includes: See the Maine grants portal for complete eligibility requirements. Confirm the full requirements in the official notice before applying.
Economic Development Program is funded by Maine Dept. of Economic & Community Development. Verify program details on the funder's official page before applying.
This opportunity targets applicants in Maine. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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