Building Reuse and Restoration Grants Program

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Building Reuse and Restoration Grants Program

• Development Grants
• Full Application Guidelines

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Grant Amount and Match

• Maximum grant amount will be no more than 400K.
• At least one new job should locate in the project
  building for every 10K in grant funds.
• Grants must be matched by at least an equal
  amount of private and public funds.
• The local government applicant should provide at
  least 2.5 of the total grant amount as a cash
  investment in the project.

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Full Application Guidelines

• General Guidelines Continue
• Partnerships with nonprofits and other agencies
  are allowed. Grant funds must be invested as a
  deferred, forgivable loan to the developer or
  business.
• Program grants must meet project specifications
  and job creation commitments.
• Grant conditions will specify clawback
  provisions.

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Full Application Guidelines

• General Guidelines
• Applicants must show private job creation within
  24 month of grant award.
• Buildings must be vacant for at least 6 months
  prior to application.
• Partially occupied buildings WILL NOT be
  considered for project funding.

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Full Application Guidelines

• General Guidelines
• Construction/renovation must begin within 6
  months of grant award.
• Construction/renovation should be complete within
  1 year.
• Grantee must allow Rural Center to verify
  compliance with grant agreement.
• Local governments must comply with state
  procurement regulations (cost reasonableness).
• Grantees will be subject to state audit and
  reporting requirements.

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Full Application Requirements

• Application Form
• Must be completed and signed by governments
  chief elected official
• Proposal Narrative
• Exhibits

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Proposal Narrative

• Building Description
• Exact location
• Age
• Size (gross building area)
• Previous use (s)
• Length of vacancy
• Current conditions
• Assessed tax value (pre and post construction)
• Market value based on most recent appraisal
• Current and future ownership
• Environmental impact on the property

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Proposal Narrative

• Business and Job Description
• Name and type of business
• Total jobs to be created
• For relocating businesses how many jobs held
  for relocating employees
• Number of net new jobs
• Job type, wage rate, FT vs. PT, benefits

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Proposal Narrative

• Detailed Reuse Plans
• Description of construction work and upfitting to
  be completed
• Detailed Timetable for Construction and Business
  Occupation
• Updated timeline for starting and completing
  construction. (realistic)
• Rural Center funding cannot be spent prior to
  grant award date.

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Proposal Narrative

• Project Budget
• Updated, detailed, line item project budget for
  renovations and upfitting based on revised grant
  amount
• Include use of funds with updated cost estimates,
  detailed scope of work
• Source of funds for each line item
• Local government match source
• If other funds are used, describe how and when
  funds will be used

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Exhibits

• Building and Land Assessments
• Attach executive summaries of all assessments
  completed to date (feasibility, architectural,
  engineering, environmental phase I and II, etc.).
  Send entire report if summary is not available.
• Appraisal
• Projects that include building purchase should
  attach a copy of the most recent certified
  appraisal.

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Exhibits

• Detailed Cost Estimates
• Attach copies of estimated verified by an
  architect, engineer, or design-build group.
• Letters of Commitment-NOT Letters of Intent
• Attach signed letters from private business to
  locate in the building, with number of jobs
  committed to create in 24 months.

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Exhibits

• Funding Commitments
• Attach signed letters from other sources of funds
  (grants, loans, private equity, local government,
  etc).
• Site Control
• Evidence of site control (options, leases or
  other documentation that shows developer,
  business, or local government has control of the
  building)

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Exhibits

• Photographs
• Attach digital photographs of the interior and
  exterior of the building to show current
  condition.
• Agreements
• Describe all agreements between parties involved
  in the reuse project.

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Exhibits

• Development Team
• Attach a list of all members of the development
  team and contact information to include local
  government contact, developer, building owner,
  managing project person and business contacts as
  applicable.

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Application Process

• Full applications will be due at the Rural
  Center.
• No facsimile or email copies will be accepted.
• Submit 1 original and 3 copies of the application
  package.
• Site visits will be made to each reuse project
• Participants in the site visit should include
  local government contact, project contact,
  developer, business owners and the project
  architect/engineer.

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Decision Time Line

• Grant will be received on a rolling basis to
  insure that the projects submitted are ready to
  GO!!

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Critical Points

• Local ownership of the project.
• Assemble a strong development team and mutual
  talking points on the project.
• Letters of Commitment, Not Letters of Intent.
• Program is not Incentive Based----it is Asset
  Based.
• Business contact is very important.
• Realistic construction timeframe and detailed
  Scope of Work.
• Brownfield Phase I, Phase II and Brownfield
  Agreements.
• Overall Economic Impact of the Project in the
  community.

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