Notice of Funding Availability issued for business lending, community/neighborhood improvements funded by the American Recovery and Reinvestment Act
The Denver Office of Economic Development (OED) has issued two notices of funding availability for programs funded by the American Recovery and Reinvestment Community Development Block Grant-Recovery (CDBG-R). Proposals are being solicited for business lending projects and community/neighborhood improvements.
Small business loan funds are available through a direct business lending program that increases the funding capability under OED’s Revolving Loan Fund and the Neighborhood Business Revitalization Loan program. CDBG-R funds totaling $1,366,613 are available to projects supporting business start-up and expansion.
Proposals to implement community or neighborhood improvements in Denver are also being solicited. A total of $850,000 in CDBG-R funds are available for neighborhood revitalization projects that may include, but are not limited to:
• block beautification,
• installation and upgrade of parks and playgrounds,
• community centers, and
• tree planting
“In shaping our CDBG-R strategy, we placed an emphasis on making as many funds as possible available to our small business community,” said OED Executive Director André Pettigrew. “We have seen a very strong need for greater access to capital among our businesses, and we’re fortunate to have these extra funds to leverage within our community to create jobs and stimulate the economy.”
The City and County of Denver has received a one-time CDBG-R allocation of $2,462,903.
Funding proposals are due October 29, 2009. For more information, including specific business lending criteria, application process and to view the notices of funding availability, visit www.milehigh.com.
To date, the City and County of Denver has received $55 million in ARRA funding for a variety of projects and programs. For more information visit www.denvergov.org/stimulus.
The Denver Office of Economic Development is dedicated to advancing economic prosperity for the City of Denver, its businesses, neighborhoods and residents. Working with a wide variety of community partners, OED operates to create a local environment that stimulates balanced growth through job creation, business assistance, housing options, neighborhood redevelopment and the development of a skilled workforce.