Business Ready Community Grant & Loan Program
This program finances publicly owned infrastructure.
Eligible Grant and Loan Activities
Infrastructure such as water, sewer, streets, telecommunications, rights-of-way, land, buildings, or amenities within a business park, industrial park, industrial site or business district or other appropriate physical projects in support of primary economic development.
Cities, towns, counties and joint powers boards are the primary applicants for this program.
Eligible Types of Projects
Business Committed Projects
An infrastructure project where an application has a business committed to expand or locate in the community. Limits: $3m grant to community, $1.5m low-interest loan per project with a 10% total project match. Requires mature Business Plan and financial information. Lease payments required on building.
Community Readiness Projects
The community wants to build infrastructure to ready itself for new business development under a specific strategy or plan of action. Limits: $1.5m grant to community with a 10% total project match.