The CDBG Economic Development (ED) Opportunity assists businesses which expand the state’s economic base and which create quality jobs primarily benefiting employees in the low and moderate-income levels.
Donor Name: Nebraska Department of Economic Development
State: Nebraska
County: All Counties
Type of Grant: Grant
Deadline: 06/30/2024
Size of the Grant: $1,015,000
Details:
CDBG funds will be utilized within the Economic Development Priority Need by a local unit of government for providing communities and counties with resources to assist businesses which expand the state’s economic base and which create quality jobs principally benefiting LMI employees and made available under the LMI CDBG National Objective criteria.
In addition, the CDBG State Revolving Loan Fund (RLF) objective is to provide adequate financing for local development to ensure Nebraska’s economic prosperity and to use all resources in a timely manner. The State is responsible for ensuring that program income at the State and local levels is used in accordance with applicable federal laws and regulations. Program income for the state’s program under the ED Opportunity is regulated by the provisions of 24 C.F.R. §570.489(e).
During the Program Year, all activities proposed in applications for CDBG funding in the ED Opportunity must meet the national objective of benefitting low- and moderate-income persons (through the subcategory LMI Jobs).
Loans to businesses or infrastructure construction projects undertaken for economic development purposes.
National Objectives
Applicants must document that the proposed activity(ies) comply with a national objective. For each project activity proposed within this funding opportunity, the national objective met is benefit to low and moderate-income persons through the subcategory Jobs (LMJ).
Priority Activities
- Acquisition of Real Property: Acquisition of real property that will be developed for a public purpose
- Economic Development Direct Financial Assistance to For-Profit Business: Financial assistance to private for-profit businesses to (for example) acquire property, clear structures, build, expand, or rehabilitate a building, purchase equipment, or provide operating capital. Forms of assistance include loans, and grants.
- Infrastructure Development: Street, sewer, water, parking, or other improvements to businesses and/or commercial/industrial sites. This activity also includes the installation of public improvements, such as the construction of streets to and through commercial/industrial areas
- Construction Management: Costs related to compliance with Davis-Bacon and Related Acts (DBRA).
Funding Information
- Award Ceiling: $1,015,000.00
- Award Floor: $125,000.00
Eligibility Criteria
- Every Nebraska county or incorporated municipality not designated as a CDBG Entitlement Community is eligible to apply for funding through DED. The CDBG Entitlement Communities of Lincoln, Omaha, Bellevue and Grand Island administer the program in their own areas
- Qualified businesses include those engaged in anyone (or combination) of the following:
- Research and development
- Manufacturing
- Data processing
- Telecommunications
- Insurance
- Financial Services
- Distribution
- Storage/Warehousing
- Transportation
- Headquarters (administrative)
- Data Centers
- Scientific Testing
- Targeted export services (75% of sales outside Nebraska or to the U.S. Government: software development; computer systems design; product testing services, guidance, or surveillance systems; technology licensing)
For more information, visit NDED.