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Array
(
    [title] => Economic Development
    [description] => 
    [acf_fields] => 
    [acf_blocks] => Array
        (
            [overview] => Array
                (
                    [background_background_type] => Image
                    [_background_background_type] => field_6438017d63237
                    [background_image] => 49018
                    [_background_image] => field_64159d5384406
                    [background] => 
                    [_background] => field_643801c402c51
                    [title] => Economic Development
                    [_title] => field_64159d6984407
                    [paragraph] => 
                    [_paragraph] => field_64159d7184408
                    [color_style] => mute-green
                    [_color_style] => field_64159f3db6de9
                    [deadline_section_box_1_title] => ECONOMIC DEVELOPMENT
                    [_deadline_section_box_1_title] => field_6415aea6257cb
                    [deadline_section_box_1_title_desc] => 
                    [_deadline_section_box_1_title_desc] => field_6418abebdbc2b
                    [deadline_section_box_1_stat] => $750,000
                    [_deadline_section_box_1_stat] => field_6415aeb2257cc
                    [deadline_section_box_1_desc] => Funding Limit
                    [_deadline_section_box_1_desc] => field_6415aebd257cd
                    [deadline_section_box_1_stat_2] => 
                    [_deadline_section_box_1_stat_2] => field_6415b0d4257ce
                    [deadline_section_box_1_desc_2] => 
                    [_deadline_section_box_1_desc_2] => field_6415b0db257cf
                    [deadline_section_box_1] => 
                    [_deadline_section_box_1] => field_6415ad447d85b
                    [deadline_section_box_2_title] => MATCH
                    [_deadline_section_box_2_title] => field_6415b10f44e8a
                    [deadline_section_box_2_title_desc] => 
                    [_deadline_section_box_2_title_desc] => field_6418ac0ddbc2c
                    [deadline_section_box_2_stat] => 50%
                    [_deadline_section_box_2_stat] => field_6415b10f44e8b
                    [deadline_section_box_2_desc] => of the awarded amount
                    [_deadline_section_box_2_desc] => field_6415b10f44e8c
                    [deadline_section_box_2_stat_2] => 
                    [_deadline_section_box_2_stat_2] => field_6415b10f44e8d
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                    [_deadline_section_box_2] => field_6415b10f44e89
                    [deadline_section_box_3_title] => APPLICATION DEADLINE
                    [_deadline_section_box_3_title] => field_6415b11944e90
                    [deadline_section_box_3_title_desc] => 
                    [_deadline_section_box_3_title_desc] => field_6418ac1adbc2d
                    [deadline_section_box_3_stat] => January 29, 2024 - December 2, 2024
                    [_deadline_section_box_3_stat] => field_6415b11944e91
                    [deadline_section_box_3_desc] => 
                    [_deadline_section_box_3_desc] => field_6415b11944e92
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                    [_deadline_section_box_3_desc_2] => field_6415b11944e94
                    [deadline_section_box_3] => 
                    [_deadline_section_box_3] => field_6415b11944e8f
                    [deadline_section_box_4_title] => QUALIFY
                    [_deadline_section_box_4_title] => field_6415b11b44e96
                    [deadline_section_box_4_list_0_item] => Must notify Commerce 10 days prior to submitting an application
                    [_deadline_section_box_4_list_0_item] => field_6415b25bc64c5
                    [deadline_section_box_4_list_1_item] => Create/Retain low- and moderate-income jobs
                    [_deadline_section_box_4_list_1_item] => field_6415b25bc64c5
                    [deadline_section_box_4_list_2_item] => Provide at least a 50% match
                    [_deadline_section_box_4_list_2_item] => field_6415b25bc64c5
                    [deadline_section_box_4_list_3_item] => Have an acceptable use project
                    [_deadline_section_box_4_list_3_item] => field_6415b25bc64c5
                    [deadline_section_box_4_list] => 4
                    [_deadline_section_box_4_list] => field_6415b23cc64c4
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                    [_deadline_section_box_4] => field_6415b11b44e95
                    [deadline_section] => 
                    [_deadline_section] => field_6415ad357d85a
                    [over_view] => 

Funding Amounts

$2.5 million has been allocated for the Economic Development program in 2024.  The maximum amount of CDBG funds that can be applied for is $750,000.

Qualifying Projects

This program funds projects assisting for-profit businesses or agricultural cooperatives with infrastructure improvements, land acquisition, site preparation, building construction or renovation, machinery, equipment, lease payments, inventory, payroll, and other working capital items.

  • Infrastructure improvements including roads, sidewalks, water lines, sewer lines, etc.
  • Business financing for a new business locating in, or an existing business expanding in, a community.
    • Non-Retail/Local Service businesses
    • Retail/Local Service businesses
  • If business financing projects are completed on time with no concerns, there is a 25% forgiveness of the CDBG loan

Selection Criteria

Grant applications are evaluated for funding based on project/financing feasibility, per capita job creation/retention, and project leveraging (match).

Key considerations include:

  • Must meet National Objective of LMI Jobs Creation/Retention.  At least 51% of the jobs created or retained must be considered low and moderate income.
  • There is a maximum of $35,000 of CDBG funds invested per job created or retained for Business Finance.
  • There is a maximum of $10,000 of CDBG funds invested per job created or retained for Infrastructure.
  • Projects must meet the required Public Benefit test.
  • Applicants must provide key financial and operational data on the proposed or existing business to demonstrate need.
  • 24 months to create or retain the number of jobs proposed
  • No bailouts or financial restructuring allowed
[_over_view] => field_6415a974afe87 [items_0_question] => Does the business entity have to be organized on a for-profit basis? [_items_0_question] => field_6415a232c6be3 [items_0_answer] => Yes. [_items_0_answer] => field_6415a239c6be4 [items_1_question] => What is the maximum amount of funds that can be applied for? [_items_1_question] => field_6415a232c6be3 [items_1_answer] => The maximum amount is $750,000 and the minimum amount is $25,000. [_items_1_answer] => field_6415a239c6be4 [items_2_question] => What can CDBG funds be used for? [_items_2_question] => field_6415a232c6be3 [items_2_answer] => There are two categories of economic development funding: Business Finance and Infrastructure. Business Finance provides funding for working capital, machinery, equipment, buildings and land. Infrastructure provides funding for water, sewer, streets, storm drainage, electric lines, gas lines, rail and sewer pretreatment facilities that lead directly to the creation or retention of jobs. [_items_2_answer] => field_6415a239c6be4 [items_3_question] => What kind of interest is charged on a Business Finance loans? [_items_3_question] => field_6415a232c6be3 [items_3_answer] => For Business Finance of non-retail operations, the interest rate equals 3 percent below prime rate or 3.5 percent, whichever is greater. For Business Finance of retail operations, the interest rate equals the prime rate or 3.5 percent, whichever is greater. Both are a fixed rate. [_items_3_answer] => field_6415a239c6be4 [items_4_question] => What kind of repayment is required on an Infrastructure project? [_items_4_question] => field_6415a232c6be3 [items_4_answer] => Infrastructure assistance for non-retail operations requires 25 percent of the assistance provided to be paid back over a 10-year period at 0 percent interest. Assistance for retail operations requires a 50 percent payback over a 10-year period at 0 percent interest. The payback mechanism is a Special Assessment by the city/county. [_items_4_answer] => field_6415a239c6be4 [items] => 5 [_items] => field_6415a21ac6be2 [faq_resource] => 49201 [_faq_resource] => field_6439b8df114cb [tips_for_success_0_icon] => business_center [_tips_for_success_0_icon] => field_6415c130217ec [tips_for_success_0_text] => Determine the type of assistance your business will require – CDBG can help with business financing and/or infrastructure improvements. [_tips_for_success_0_text] => field_6415c135217ed [tips_for_success_1_icon] => payments [_tips_for_success_1_icon] => field_6415c130217ec [tips_for_success_1_text] => Loan repayment is required with Economic Development funding; it is not a grant. How much, at what rate, and what term will be determined by the type of assistance provided. [_tips_for_success_1_text] => field_6415c135217ed [tips_for_success_2_icon] => content_paste [_tips_for_success_2_icon] => field_6415c130217ec [tips_for_success_2_text] => You must be prepared to document at least one (1) created or retained job per every $35,000 of CDBG funds for business financing projects and one (1) job for every $10,000 of CDBG funds for infrastructure improvements. [_tips_for_success_2_text] => field_6415c135217ed [tips_for_success_3_icon] => [_tips_for_success_3_icon] => field_6415c130217ec [tips_for_success_3_text] => [_tips_for_success_3_text] => field_6415c135217ed [tips_for_success] => 4 [_tips_for_success] => field_6415b81d217e9 [qualification_rules] => default [_qualification_rules] => field_6453a3bff1f53 [application_detail_application_documents_0_file] => 49019 [_application_detail_application_documents_0_file] => field_6415c4642de71 [application_detail_application_documents_0_file_title] => Grant Guidelines [_application_detail_application_documents_0_file_title] => field_6415c482cab7f [application_detail_application_documents_1_file] => 49246 [_application_detail_application_documents_1_file] => field_6415c4642de71 [application_detail_application_documents_1_file_title] => Economic Development FAQS [_application_detail_application_documents_1_file_title] => field_6415c482cab7f [application_detail_application_documents_2_file] => 49245 [_application_detail_application_documents_2_file] => field_6415c4642de71 [application_detail_application_documents_2_file_title] => 2024 Economic Development Application and Guidelines [_application_detail_application_documents_2_file_title] => field_6415c482cab7f [application_detail_application_documents] => 3 [_application_detail_application_documents] => field_6415c30e84c9a [application_detail_application_deadline] => Application Deadline: Jan 29th, thru Dec 2, 2024 [_application_detail_application_deadline] => field_6415c31684c9b [application_detail_application_url] => [_application_detail_application_url] => field_6415c7c7208d9 [application_detail] => [_application_detail] => field_6415c2fc84c99 [cdbg_contact] => Email Timothy Parks, CDBG Specialist, tim.parks@ks.gov (785) 480-8072 [_cdbg_contact] => field_6437fe00583e7 ) ) )