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Joint Public Works, Economic Adjustment, and GCCMIF Programs Opportunity The Economic Development Administration recently announced that for FY11 it will no longer process applications for its Public Works, Economic Adjustment Assistance, and GCCMIF programs on a continuing basis. Instead, the agency will implement a new process under which it considers applications at a set time in roughly quarterly funding cycles. This new process is intended to enhance the competitiveness, transparency, and efficiency of EDA’s grants-making process. EDA will continue to accept applications on a continuing basis, but if an applicant wishes to be considered for a particular funding cycle, EDA must receive a complete application before one of the FY11 funding cycles closes. For FY11, the funding cycle deadlines are as follows: December 15 for funding cycle 1; March 10 for funding cycle 2; June 10 for funding cycle 3; and September 15 for funding cycle 1 of FY12. Applications for financial assistance submitted under EDA’s Planning, Partnership Planning, Local Technical Assistance, University Center, and Research and National Technical Assistance Programs are not subject to same deadlines. Because EDA is currently operating under a continuing resolution that allocates funding based on FY10 funding levels until the enactment of the FY11 appropriations, we are still left to speculate how much funding will be available for the first cycle of the above grant programs. Assuming EDA p.40 ~ The Fundbook | May 2011


Round 3: Jun 10, 2011

receives FY11 appropriations of Amount Available approximately the same level as in Large: $25,000,000 FY10, EDA expects to use approximately 30 percent of its appropriations for the Public Works, EcoNumber of Awards nomic Adjustment Assistance, and Unknown GCCMIF programs to fund those applications submitted before the publication of its recent announceAgency Economic Development Agency ment. The remaining 70 percent will be used to fund three funding cycles in FY11. During each of the first two funding cycles, EDA expects to fund projects totaling approximately 30 percent of EDA’s FY11 appropriation for the three programs. In the third cycle, if FOA # funds remain, EDA expects to fund EDA10142010EDAP projects with the remaining 10 percent of the agency’s FY11 appropriation and with any funds EDA allocated $133,280,000 for that may become available during the Public Works and Economic the first two funding cycles. Development Facilities Program in FY10. The average size of a Public Works & Economic Development Facilities Program Public Works investment was apEDA will provide strategic Pub- proximately $1.7 million, though lic Works investments to support investments ranged in size from the construction or rehabilitation $500,000 to $2,000,000. of essential public infrastructure and facilities to help communities Economic Adjustment and regions leverage their resourc- Assistance Program Through the Economic Adjustes and strengths to create new and better jobs, drive innovation, be- ment Assistance Program, EDA come centers of competition in provides a wide range of constructhe global economy, and ensure tion and non-construction asresilient economies. For example, sistance, including public works, EDA may provide funding to a technical assistance, strategies, and county to expand a rural economic revolving loan fund (RLF) projects, development center, allowing the in regions experiencing severe ecocenter to increase its capacity to nomic dislocations that may occur provide services to the State’s most suddenly or over time. This prounderserved and vulnerable com- gram is designed to respond flexibly to pressing economic recovmunities and small businesses.

2011-04 Midmonth Update  
2011-04 Midmonth Update  

The FundBook midmonth update