new and expanded economic development tools resulting from federal stimulus and recovery legislation...
Post on 26-Dec-2015
215 Views
Preview:
TRANSCRIPT
NEW AND EXPANDED ECONOMIC DEVELOPMENT TOOLS
RESULTING FROM FEDERAL STIMULUS AND RECOVERY LEGISLATION
Indiana Economic Development Corporation Update
August 26, 2009
Indiana ARRA Activity By County
• Indiana ARRA Activity Map http://in.gov/gov/countyarra.htm
Online Project Survey
• The state, in conjunction with Ball State University, created an online project survey to gather information about potential community projects.
• A list of more than 9,000 project ideas sorted alphabetically by county is available at: http://www.in.gov/gov/files/Press/040709.pdf.
• The survey was designed to serve only as a tool to gather information and should not be considered an application for funding. Due to federal program requirements, most projects will not be eligible for funding.
Economic Development Administration (EDA)
• EDA has standard program, disaster & stimulus funds available for eligible projects • The state submitted a priority project list to EDA
– Local economic impacts– “Shovel Ready” projects
• Regional planning commissions apply for grants on behalf of local communities • For more information about EDA programs, contact David Terrell at (317) 232-8856
or at dterrell@ocra.IN.gov.
INDOT• Highway funding appropriation is based on a federally-
mandated formula requiring 60% to be filtered through the state to Municipal Planning Organizations (MPOs) and 40% through the state to Non-Entitlement Communities (county highway departments without MPO jurisdiction).
• MPOs have more autonomy on how funds can be spent than Non-Entitlement Communities, who usually partner more closely with the state to determine project viability.
• Eligible roads are mainly determined by federal government restrictions based on a hierarchy of functional road systems (principal arterials, minor arterials, collector roads, local roads).
• For more information about transportation funding programs, contact David Holtz at (317) 233-1524 or at dholtz@indot.IN.gov.
INDOT Links
• Indiana MPO list: http://www.indianampo.com/MPO/mpos.htm
• Transportation Infrastructure Distribution of Funds: http://www.in.gov/gov/2991.htm
Wastewater
• Projects are managed by Indiana Finance Authority through the state revolving loan fund
• Low interest loans to municipalities and publicly-owned facilities
• A list of State Revolving Fund Wastewater Stimulus Projects is available at : http://www.in.gov/ifa/arra.htm
• Communities may submit applications for future funding opportunities
• For more information about the SRF Loan Program process, contact Shelley Love at (317) 232-4396 or at slove@ifa.in.gov.
Drinking Water
• Projects are managed by Indiana Finance Authority through the state revolving loan fund
• Low interest loans to municipalities and publicly-owned facilities
• A list of State Revolving Fund Drinking Water Stimulus Projects is available at : http://www.in.gov/ifa/arra.htm
• Communities may submit applications for future funding opportunities
• For more information about the SRF Loan Program process, contact Sarah Hudson at (317) 232-8663 or at sahudson@ifa.in.gov.
Broadband• Targeted to local governments and higher education
institutions• Programs include
– Broadband infrastructure program ($1.2 B nationwide)– Public computing center ($50 M nationwide)– Broadband adoption program ($150 M nationwide)
• Applications were due August 14, 2009 for 1st of 3 application rounds
• State applied for $3.5 M federal grant to create the state broadband map
• If you have any questions on OCRA’s broadband Internet initiatives, contact Geoff Schomacker at (317) 232-8909 or gschomacker@ocra.in.gov.
Weatherization Assistance Program (WAP)
• Program is administered by Indiana Housing and Community Development Authority (IHCDA)
• Indiana Department of Administration (IDOA) issued a Request for Proposal (RFP) to bulk purchase hot water heaters, furnaces, cellulosic & fiberglass insulation
• Program is currently pending approval by US Department of Energy
• Submit program questions online at: http://www.in.gov/ihcda/2523.htm.
Recovery Zones
• Each county and large municipality may designate a recovery zone
• Characteristics include:– Significant poverty, unemployment, home foreclosure
rates or general distress– Economically distressed by reason of a military
installation closure or realignment
Recovery Zones Economic Development (ED) Bonds (Government Projects)
• Indiana is receiving $313 M • Each county and large municipality will receive its allotment
of ED bonds • Bonds are issued at taxable interest rates. • The government provides a rebate of 45% of interest paid
on bonds• Uses include capital expenditures, such as public
infrastructure, construction of public facilities and expenditures for job training and education
• Bonds must be issued by January 1, 2011
Recovery Zone Facility Bonds (for Privately Used or Owned facilities)
• Indiana is receiving $469,621,000 (cap) for tax exempt bonds on privately used or owned projects located in designated recovery zone areas
• Uses include financing any depreciable business property constructed, reconstructed, renovated or acquired by purchase in the recovery zone after the date of designation
• Bonds must be issued prior to January 1, 2011
• For more information about Recovery Zone bonds, contact Cindy Pierson at (317) 233-4335 or at cpierson@ifa.IN.gov.
Energy
• State received stimulus funds through the Office of Energy, which include:– Energy Efficiency and Conservation Block Grant
(EECBG) (http://www.in.gov/ihcda/2523.htm)– State Energy Program (http://www.in.gov/oed/2583.htm)
• Examples of eligible projects include wind turbine manufacturers, lithium-ion battery producers, hybrid automotive OEMs, smart grid, etc
• For more information about energy programs, contact Brandon Seitz at (317) 234-3158 or at bseitz@oed.in.gov
Competitive Grants
Indiana’s "Funding Opportunities" page is a one-stop resource for small businesses, local governments and other entities seeking to apply for competitive grants administered by the federal government: http://www.in.gov/gov/3068.htm
Federal grant opportunities are available at:
http://www.grants.gov/aboutgrants/grant_categories.jsp
Questions?
Pam Fisher
Director, Regulatory Affairs
Indiana Economic Development Corporation
317-232-8893
pfisher@iedc.in.gov
David Meehan
Policy Analyst
Indiana Economic Development Corporation
317-233-5121
dmeehan@iedc.in.gov
top related