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05.01 - Update on Funding Options by BLADC
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04-04-2006 Council Meeting
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05.01 - Update on Funding Options by BLADC
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equipment required for a facility's operation. A <br /> grant may be made in combination with other CF <br /> financial assistance such as a direct or guaranteed <br /> loan,applicant contributions, or loans and grants <br /> from other sources. <br /> Community Facilities Grant Program is typically <br /> used to fund projects under special initiatives, <br /> such as Native American community development <br /> efforts;child care centers linked with the Federal <br /> government's Welfare-to-Work initiative; <br /> Federally-designated Enterprise and Champion <br /> Communities, and the Northwest Economic <br /> Adjustment Initiative area. <br /> The amount of grant assistance for project costs <br /> depends upon the median household income and <br /> the population in the community where the project <br /> is located and the availability of grant funds. In <br /> most instances, projects which receive grant <br /> assistance have a high priority and are highly <br /> leveraged with other loan and grant awards. Grant <br /> assistance may be available for up to 75%of <br /> project costs. Grant funding limitations are based <br /> on population and income, economic feasibility, <br /> and availability of funds. <br /> Projects will be selected based on a priority point <br /> system. Projects that will receive priority are <br /> those that: <br /> • Serve small communities -with the <br /> highest priority going to projects <br /> located in a community with a <br /> City of Pequot Lakes Infrastructure Funding 10 <br />
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