Jessica DeLora Program Coordinator Commu mmunity nity an and - - PowerPoint PPT Presentation

Michelle Carroll - Program Manager Jessica DeLora – Program Coordinator

• 1. Utah County CDBG
• 2. Summit and Wasatch County

CDBG

• 3. Mountainland Economic

Development District

• 4. Mountainland Small Business

Loan Fund

Commu mmunity nity an and Economic

• nomic

Deve velopmen lopment

 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

• rganizations 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

Administratio n, $684,000 Water & Sewer, $2,484,962 Public Services, $667,268 Public Facilities, $249,254 Senior Projects, $286,282 Economic Development, $300,000 Fire Station, $186,280 Housing, $269,496

 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

• wing

ng the Economy

• my 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%