1 / 38

Georgia Department of Community Affairs CDBG Economic Development

Georgia Department of Community Affairs CDBG Economic Development . Annual Competition and Set-Aside Programs CDBG, EIP, RDF and Capitalized RLF. GENERAL OVERVIEW. Overview.

kaitlyn
Télécharger la présentation

Georgia Department of Community Affairs CDBG Economic Development

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Georgia Department of Community AffairsCDBG Economic Development Annual Competition and Set-Aside Programs CDBG, EIP, RDF and Capitalized RLF

  2. GENERAL OVERVIEW

  3. Overview Community Development Block Grant (CDBG) enacted by Congress as Title I of Housing and Community Development Act of 1974 The primary objective of CDBG is “the development of viable communities through improvement of living conditions, housing and the expansion of economic opportunities in cities and counties, principally for persons of low and moderate income.”

  4. Overview (Cont.) Local governments can implement a broad range of activities as long as they further the National Objectives of the Act National Objectives are: • Majority benefit to low- and moderate-income persons through services and job creation • Prevention or elimination of slum and blight • Immediate Threat & Danger

  5. Available Funding CDBG Funds from U.S. Housing and Urban Development (HUD)

  6. Features of Economic Development Programs

  7. Differences of Economic Development Programs Set-Asides (EIP/RDF) • Anytime submission • Compete against rating and review process • Complete application with second change • Processing time – 45 days for complete application Annual Competition (CDBG-ED) • One annual submission • Compete against rating and review process and other applications • Complete Application without exceptions • Processing time – 5 months

  8. Ineligible CDBG-ED/EIP/RDF Activities • Working Capital • Refinancing • Speculative Projects • Capacity Building • General Conduct of Government • Project Not Meeting Federal Guidelines • Using Federal Funds to relocate businesses (There are Restrictions)

  9. GETTING STARTED

  10. Getting Started – Annual Competition, EIP & RDF • Have an Idea? Call DCA early! • PACA Request (CDBG-ED) or Initial Project Assessment (EIP/RDF) – Field Services representative will visit. • PACA – pre-agreement cost approval does not guarantee funding. • Application – Reviewed by panel.

  11. TheCDFD Finance Team Field Staff Project identification, assessment and development Compliance monitoring Program Manager Review overall project Ensure program objectives can be met Craft award documents Project oversight Credit Unit Credit analysis, underwriting Financing options

  12. Application Process • Application Forms (DCA 1- DCA 13) • Supplemental Information & Documentation • Public Infrastructure or Loan attachments Refer to: EIP or RDF Application Manuals and CDBG Applicants & Recipients Manuals www.dca.ga.gov * Further discussion in Advanced Session *

  13. Four Routes to ED with CDBG • Annual Competition CDBG-ED application • Employment Incentive Program • Redevelopment Fund Program • Local Revolving Loan Fund (generated by CDBG-ED, EIP or RDF loans)

  14. SPECIFIC PROGRAMS

  15. ANNUAL COMPETITION and/or EIP GRANT PUBLIC INFRASTRUCTURE

  16. Infrastructure Grants- Eligible Activities Public Infrastructure Acquisition, construction and rehabilitation of Water - lines, tanks, wells, treatment plants Sewer - gravity lines, forcemains, pump stations, treatment plants, land application “sprayfields” Roads - access, turn lanes, accel/decel lanes, paving Stormwater drainage – ditches, pipes, culverts, ponds Rail spurs - switches, track, track base, derails, stops Other - wastewater pretreatment plant, gas lines (“red”) Public Facilities Workforce development centers / Child care facilities

  17. Oconee County – Zoom Bait Company, Inc. & St. Mary’s Healthcare Systems Inc. • Recipient – Oconee County • Sub-Recipient – Zoom Bait Company, Inc. & St. Mary’s Healthcare Systems, Inc. • Grant Amount - $373,422 • Project – sewer line extension • Private Investment - $7.5 Million • Jobs – Create 12, Retain 127 (172 existing jobs)

  18. Source and Use – Oconee County

  19. Oconee County Zoom Bait Company, Inc. St. Mary’s Healthcare Systems Inc.

  20. Infrastructure Grants Areas of Concern: DCA-4 Description of Needs to be Addressed – Needs for improvement of existing conditions (more than just project) DCA-5 Description of Activities – Specific project activities with codes and timetable to meet program relative needs addressed in DCA-4 DCA-8 Budget Analysis – CDBG funded construction, engineer/architect and grant administration by ED activity codes and other public /private funding EIP Application Supplements Preliminary Engineering Report or Preliminary Architectural Report Project Cost Estimate Source-and-Use Statement Commitment Letter(s) – all public and private sources of project funding Letter of Credit or Surety Bond Economic Development and EIP Supplemental Information and Documentation Rating and Selection Criteria Infrastructure Capacity Analysis (IFCA) Economic Development & Construction Agreement

  21. EIP GRANT – LOAN TO PRIVATE FOR-PROFIT BUSINESS

  22. EIP Loans – Eligible Activities Loans to for-profit for purchase of fixed assets Acquisition, construction and rehabilitation of commercial or industrial land, building(s), machinery and equipment and other real property improvements * Loan repayments may capitalize or be placed into a local RLF

  23. Loan Structures • DCA Grant to a Local Government • Local Government then provides: • Direct loan to a private business or, • A loan to a development authority who then makes a direct loan to a private business

  24. City of Quitman – Crown Health Care Laundry Services, Inc. • Recipient – City of Quitman • Sub-Recipient – Crown Health Care Laundry Services, Inc. • Grant Amount - $500,000 • Project – Building Improvements • Private Investment - $500,000 • Jobs – 140

  25. Source and Use – City of Quitman

  26. REDEVELOPMENT FUND

  27. REDEVELOPMENT FUND Eligible Activities: • Projects must alleviate a “slum or blighted” condition • Public infrastructure, public facilities • Loans to acquire and alleviate blighted buildings/facilities • Loan/lease payments may be capitalized into a local RLF • Any new jobs must be available to low- and moderate-income persons

  28. Samples of RDF Eligible Activities • Acquisition and clearance of blighted property • Renovation and reuse of abandoned historical buildings • Commercial revitalization through façade improvements • Removal of environmental contaminants on property to enable it to be redeveloped for a specific use

  29. City of Boston • Recipient – City of Boston • Grant Amount - $343,591 • Project – Renovate a blighted storefront alleviated deteriorated building conditions and stabilize the structure of the adjourning buildings. • Private Investment - $35,000

  30. Source and Use – City of Boston

  31. City of Boston

  32. LOCAL REVOLVING LOAN FUND (RLF)

  33. Local Revolving Loan Funds • EIP/RDF loan payments capitalize local RLF • RLFs can be used for local economic development needs • Must be CDBG-eligible • Opportunities available to partner with local banks to finance eligible activities (same as EIP) that create employment for L/M persons

  34. Local Revolving Loan Funds • Administered by local government with DCA’s oversight and guidance (as needed) • Currently 71 RLF’s throughout Georgia, with: • $34 million in RLF assets • $11 million in cash • $23 million in loan receivables • RLF must be used in a timely manner – at least one new loan every five (5) years • For RLF cash balances greater than $125k, cash balance should be maintained at less than 30% of total RLF assets

  35. THINGS TO REMEMBER

  36. Things to Remember • Describe your project and jobs created/retained • Document need, costs and support of banks & businesses • Debt – credit underwriting and terms

  37. Program Manager Contacts: Andy Yarn - Employment Incentive Program (404) 679-1589 andy.yarn@dca.ga.gov Nyanza Duplessis – EIP Loan and RDF Program (404) 679-0668 nyanza.duplessis@dca.ga.gov Michael Casper – Local RLF Coordinator (404) 679-0594 michael.casper@dca.ga.gov John Kingery – Credit Manager (404) 679-1586 john.kingery@dca.ga.gov

  38. ED Representative Contacts: Jennifer Fordham – Southeast Georgia (912) 865-4212 jennifer.fordham@dca.ga.gov Kelly Lane – South Georgia (229) 896-4259 kelly.lane@dca.ga.gov David Shellhorse – Northeast Georgia (706) 955-7505 david.shellhorse@dca.ga.gov Ron Thompson – Southwest Georgia (478) 934-3845 ron.thompson@dca.ga.gov Patrick Vickers – Northwest Georgia (404) 679-3151 patrick.vickers@dca.ga.gov Glenn Misner – Field Services Office Manager (404) 679-3138 glenn.misner@dca.ga.gov

More Related