CDBG for Economic Development
The Community Development Block Grant Program (CDBG) is a grant program that is available to fund publicly owned infrastructure. Funding from this program can be used by municipalities and counties to assist with the location, expansion, or retention of businesses. Usage of the funds must be directly related to the construction, renovation, or expansion of industry.
Examples of eligible projects include:
Drainage systems
Water and sewer systems
Roads, bridges, and rail spurs
Buildings (rehabilitation/expansion)
Program Facts
Job creation is the goal of the Community Development Grant Economic Development Program. CDBG requires that at least 51% of the jobs created must be made available to persons of low and moderate income as determined the U.S. Department Housing and Urban Development. Typical industries that are eligible under this program include:
Manufacturers
Warehouses and distribution centers
Research and development facilities
Telecommunications and data processing facilities
National or regional headquarters
Municipalities and counties must apply on behalf of industry based on the public infrastructure needs of the project. The Community Development Block Grant Program (Economic Development) provides for a maximum grant amount per project of $650,000.
Available Documents
• Economic Development Proposal
• Economic Development Public Improvements Loan Application
• Funding Certification Form
• Project Information Package
• Memorandum of Agreement
• Company Financial Information
• Request for Cash
• Source and Use of Funds Disbursement 2006
• Budget Summary
Upon review, Community Services Division will make a decision whether or not to invite an application. Only invited applications will be considered due to the limited amount of funds available. The letter inviting an application will state the amount of funds that may be requested.
For further details or assistance, contact the Community Services Division at community@mississippi.org or (601)359-3179.
Finance and Tax Incentive Programs
Your community may be the ideal place for a particular business. Not-for-profit economic development organizations should look here.
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