Rule 6-4-11.4 - Threshold RequirementA. Applicants must have no unresolved audit or monitoring findings. In addition, if a community has ANY CSD concerns that have not been resolved, then CSD may not review the application and the application may be disqualified from consideration in funding. This includes but is not limited to delinquent loan payments, failing to submit required reports, etc.B. The proposed activities must be associated with creating and/or retaining 20 or more jobs. However, Small Governments may be considered for funding with a minimum of 15 jobs. Projects having retained jobs and those creating public sector jobs shall be reviewed on a case-by-case basis and if funds are limited these type projects will have a lower priority for funding. MDA may consider proposals that are based on full time job equivalents. One full-time job is equivalent of a minimum of 1,820 annual work hours.C. CDBG assistance per job must be $20,000 or less.D. The applicant must have a Memorandum of Agreement executed with the business to create and/or retain the jobs and to make the investment as described in the application. The highest official within both the local government and the benefiting business/industry must sign this agreement.
E. CDBG participation is limited to a maximum of 50% of the total project cost.F. Any eligible applicant for 2011 Economic Development funds that has an Economic Development grant over three years old must receive special permission from MDA to apply.G. Applicants from Tier 1 or 2 counties must provide a minimum of 10% local cash match towards the eligible infrastructure improvements. Applicants from a Tier 3 county must make a best effort to provide a 10% local cash match. Federal or state loans may be used to meet this requirement. In-kind services may also be used to meet this requirement.