Michelle Carroll - Program Manager Jessica DeLora – Program Coordinator
Commu mmunity nity an and Economic onomic Deve velopmen lopment 1. Utah County CDBG 2. Summit and Wasatch County CDBG 3. Mountainland Economic Development District 4. Mountainland Small Business Loan Fund
Funding is provided through the U.S. Department of Housing and Urban Development's Community Development Block Grant (CDBG) Program to Utah County An estimated $1.1M is available in FY 2015 for eligible Utah County jurisdictions, non-profits, and other organizations for community and economic development projects Mandatory How To Apply Workshops: Wednesday, October 22 from 10:00 - 11:00 AM Wednesday, October 29 from 3:00 - 4:00 PM
Housing, Fire Station, Administratio Economic $186,280 $269,496 n, $684,000 Development, $300,000 Senior Projects, $286,282 Public Facilities, $249,254 Public Water & Services, Sewer, $667,268 $2,484,962
Funding is provided through the U.S. Department of Housing and Urban Development's Community Development Block Grant (CDBG) Program to the State of Utah. Funding decisions are made on the AOG level. An estimated $450,000 is available in FY 2015 for eligible Wasatch and Summit County jurisdictions, non- profits, and other organizations for community and economic development projects Mandatory How To Apply Workshop: Tuesday, October 28 from 3:30 - 5:00 PM
A planning organization for the Economic Development Administration (EDA) Includes Utah, Summit and Wasatch Counties Administered by Mountainland Association of Governments A 5 year CEDS is a requirement of the EDA EDA grant funding is based upon the needs and objectives identified in the CEDS
$1.5 Million - Purchase and remodel of a building to house the UVU Business Resource Center $2 Million - Mountainland Vista Business Center in Provo $250,000 – Heber Valley Historic Railroad Depot Yearly Planning Assistance Awards
Created a single economic development strategy uniting Utah, Summit, and Wasatch County efforts Updated 2007 CEDS and made region eligible for EDA funding Identified opportunities and priorities to guide future economic development in the region Identified and refined target industries that will be the focus of future economic development efforts Provided a plan of action that will create jobs in those industries and across the economy
“ Grow owing ng the Economy omy of the Mountainl ainlan and d Region one business at a time”
Revolving Loan Fund – $10,000 - $100,000 loans to existing and start-up businesses in our region excluding Provo, Orem and Lehi Microloan Program - $500 - $10,000 loans to existing and start-up businesses in our region
$536,516 CDBG Grant in FY2009 to start RLF $35,000 CSBG American Recovery and Reinvestment Act of 2009 to start Microloan $150,000 Utah County CDBG in FY2011 and FY2014 Two $25,000 grants from American Express Averaging 2 applications per month 42 Loans since December 2009 totaling $1,294,008.50 . 84 Jobs retained/jobs created!!! 7 Loans in Summit County, 19 Loans in Utah County, 16 Loans in Wasatch County Terms from 6 months to 5 years Rates 8%-10%
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