$225 Million Announced for Grants to Respond to Coronavirus Pandemic
The U.S. Economic Development Administration (EDA) today announced the availability of $1.5 billion in funding as part of the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act to help offset economic impacts within local communities – their largest allocated funding award in history. Of that $1.5 billion, Michigan communities and organizations will compete for $225 million in grant awards allocated to the Chicago Region, which also includes the states of Illinois, Indiana, Minnesota, Ohio, and Wisconsin. The EDA’s CARES Act Recovery Assistance is designed to provide a wide range of financial assistance to communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
The Tri-County Regional Planning Commission (Tri-County) serves as the federally designated Economic Development District (EDD) for Clinton, Eaton, and Ingham counties in Mid-Michigan. This designation provides eligibility for the EDA’s investment programs through a competitive grant process to all municipalities within the tri-county region, including this CARES Act funding opportunity.
Eligible applicants include a(n):
District Organization;
Indian Tribe or a consortium of Indian Tribes;
State, county, city, or other political subdivision of a State, including a special purpose unit of a State or local government engaged in economic or infrastructure development activities, or a consortium of political subdivisions;
Institution of higher education or a consortium of institutions of higher education; or
Public or private non-profit organization or association acting in cooperation with officials of a political subdivision of a State.
The investments are designed to help communities catalyze public-private partnerships to foster collaboration, attract investment, create jobs, and foster economic resiliency and prosperity. Examples of projects that may be funded through CARES Act Recovery Assistance include:
Economic recovery planning and development of technical strategies to address economic dislocations caused by the coronavirus pandemic;
Preparing or updating resiliency plans to respond to future pandemics;
Implementing entrepreneurial support programs to diversify economies;
Constructing public works and facilities that will support economic recovery, including the deployment of broadband for purposes including supporting telehealth and remote learning for job skills; and
Strategies in support of workforce development and employee retention efforts.
Projects must address the direct consequences of the coronavirus pandemic and how the project will contribute to a community’s recovery and resiliency. In addition, each project must align with the region’s current Comprehensive Economic Development Strategy objectives and strategies.
To assist as many communities as possible, the EDA has lowered the traditional 50% applicant match requirement to 20%. If significant need based on the economic distress of the community can be demonstrated, the match requirement may be waived in full. Applications are being accepted through the Public Works and Economic Adjustment Assistance Program and will be accepted on a rolling basis.
This funding opportunity can provide critical resources for infrastructure investments and other regionally significant growth and development needs. Eligible applicants can apply on the EDA’s grants portal. Our staff is available to answer questions regarding this funding opportunity and may assist organizations in navigating the application and discussing proposed projects.
