EDA has released funding made available through the
CARES ACT
to facilitate economic recovery. There is robust demand. Therefore, applicants are strongly encouraged to submit applications as soon as possible. We wanted to make sure you were aware of this.
The CARES funding can be used to support
public-owned infrastructure projects
(new construction or renovation),
technical assistance
or
planning projects
that are economic development projects
and
that help communities
“prevent, prepare for, and respond to coronavirus…..”
This is fairly broad language, but as applications get reviewed, they will be evaluated on the extent to which applicants can clearly identify a project, explain the relationship to coronavirus
(i.e. loss of major industry and need to diversify, need to retrain workforce for more resilient opportunities that may be there as things get back to normal, need to support recovery of key economic drivers, etc.)
and be able to clearly define economic development outcomes
(i.e. how it will be able to help lead to long-term jobs or retain jobs for the region)
.
Applications requesting EDA to fund general operations are not competitive; however, where applicants can define a need, state a project with goals
(i.e. marketing study, supply chain analysis, technical assistance to small businesses, etc.)
and define impacts/relationship to COVID-19, EDA can support projects where funding is for personnel.
Applicants need to be able to convey what the government is ”buying".
The most competitive applications will be able to define a project that has a definitive start date and end date.
EDA does not permit applicants to precede with work until after an award is made
. Applications generally take around six months to process on average.
Please note federal procurement is required on all awards
, and
Davis Bacon wage rates and other applicable requirements are required on all construction projects
.
Average grant awards for technical assistance/planning projects are generally expected in the range of
$25,000 to $200,000
, while for construction projects the expected range is generally between
$500,000 to $2,000,000
. EDA can go higher and lower, but there has to be strong case to go higher with very clear economic development outcomes
(i.e. jobs retained/created and private investment)
.
Grants generally require a 20% match
, for technical assistance and planning grants this can be in-kind or cash match and for construction projects this has to be cash match.
Match has to be committed, available and unencumbered
.
All applicants are strongly encouraged to submit applications as soon as possible as demand will far exceed available resources
.
Instructions:
- On Form ED-900, section B.3.b., include a description of the economic impacts in the region from the coronavirus pandemic and describe how the proposed project scope of work will respond to those impacts and support pandemic recovery and resilience efforts.
- Applicants may also provide a separate narrative statement, not to exceed one page in length, of the economic impacts in the region from the coronavirus pandemic and how the proposed project scope of work responds to those impacts.
- Additionally, on Form ED-900, section B.6, explain how the proposed project would meet EDA’s Recovery and Resilience investment priority, which all CARES Act Recovery Assistance projects are expected to meet. You may also explain in this space how the proposed projects will meet any of EDA’s other investment priorities.
Please feel free to reach out to
Justin Hembree
at
jhembree@mccog.org
if you need assistance.
