Economic Development Program 2006 Application Process November 2005

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Economic Development Program2006 Application
ProcessNovember 2005
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• Basic Parameters
• Statutory objective LMI benefit
• Gap financing
• Up to 40 project costs
• Typical participation 100,000 - 750,000
• Community applies on behalf of business
• Exceptions must be exceptional projects

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• Initial Inquiry 3 Things
• Project summary
• With company description
• Need for CDBG funds
• Draft sources and uses of funds
• Jobs information
• Total created/retained
• Low/mod jobs created/retained

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• Preliminary Evaluation Questionnaire
• 7 page fill-in the blank
• Business Plan
• Financing Plan
• Signed by Chief Elected Official (CEO)

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• Invitation to Apply
• Brief narratives
• Signed by CEO and Business
• Certifications
• Project budget and schedule
• Commitment Letters
• Third party cost documentation
• Citizen Participation

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• Keys to a Good Project
• Good Jobs!
• Definable community impact
• Complete financial information
• Clear financial need
• Appropriate third party documentation
• Upfront community involvement

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• Contact Information
• [phone]
• www.nysmallcities.com