Community Development Block Grant – Economic Development (CDBG-ED) Program
The business will work with the Unit of General Local Government (UGLG) to complete the application for the CDBG-ED program. Typical awards are $7,000-$10,000 per job created or retained, however the amount of funds awarded per job is at the discretion of DEHCR. At least 51% of the jobs created or retained must be held by low-and moderate-income (LMI) persons. CDBG-ED applications may be submitted at any time, and are reviewed by DEHCR as they are received. CDBG-ED funds are awarded throughout the year until funds are no longer available. Application materials and submission instructions should be carefully reviewed prior to applying for CDBG-ED funds. If awarded, the CDBG contract will be between DEHCR and the UGLG. Review Process: For each Grant Application received, DOA reviews the Application (on a case-by-case basis) to determine the eligibility & fundability of the proposed project. Successful Applications must meet a CDBG National Objective (in accordance with HUD program regulations). DOA anticipates a minimum 60-day review time period for submitted Applications. Applications deemed eligible & fundable will be awarded State CDBG-ED funds. Award Process: Award letters will be issued upon determination of the Communities' (and their respective Businesses') abilities to meet a CDBG National Objective in accordance with HUD program regulations. The award letter outlines the next steps required to accept & execute a Grant Agreement (i.e. contract) with the State of Wisconsin. Next Steps & Requirements: Community grant administrators will be required to attend implementation training. See the CDBG-ED website: https://doa.wi.gov/Pages/LocalGovtsGrants/CDBGEconomicDevelopmentProgram.aspx
A pre-application meeting with DEHCR is required. CDBG-ED grant funds are awarded to local governments to assist businesses to create or retain jobs for individuals with low and moderate incomes. Examples of eligible projects include: business loans to expand facilities or purchase equipment, specialized employee training, or business infrastructure projects.
- Create or retain jobs for individuals with low and moderate incomes.
Business, Economic Development, Education & Schools, Health & Mental Health
USDT New Markets Tax Credit Program
U.S. Department of the Treasury
The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries.