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Special Economic Development Projects

Through Special Economic Development Projects, not-for-profit, for-profit, or public entities may apply for CDBG funding to develop retail, industrial, commercial, or mixed-used buildings with the overall objective of creating jobs. Participating municipalities may also use CDBG funds to improve public infrastructure facilities in order to help create economic opportunities. This may include infrastructure improvements that benefit businesses, such as water or sewer service to a business area.

Funding for this category is limited to activities that address the Priority Needs levels of the NRSAs and Eligible Block Groups (EBGs). Activities that do not address the Priority Needs levels listed in Part II, Attachment 6 will not be eligible for funding for Special Economic Development Projects.

National Objective

All activities funded under the category of Special Economic Development Projects shall be required to meet the US HUD CDBG National Objective of Low-Mod Jobs (LMJ), in accordance with 24 CFR 570.208(a)(4). Federal regulations require that one job be created for every $35,000 awarded.

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Eligible Activities

Special Economic Development activities may only meet the Low-to-Moderate Income Benefit national objective in the following three ways:

  1. Be located in a predominantly low-to-moderate income neighborhood and serve the Low-Mod Income residents of the neighborhood (i.e. commercial center serving the neighborhood); or
  2. Involve facilities designed for use predominantly by low-to-moderate income persons; or
  3. Involve the employment of persons, the majority of whom are low-to-moderate income.

 

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Activity Requirements

Eligible applicants must meet all the requirements listed below:

  • Must have site control;
  • Activity must be shovel-ready. A project is considered “Shovel ready” if the following conditions are met:
    • the Environmental Site Assessment reports (Phase I and/or II) are completed with a “No Further Action” recommendation;
    • construction plans and specifications have been completed and approved by all appropriate local agencies;
    • full funding of construction phase is available (minus the gap funding requested); and
    • construction is ready to start pending the selection and award of the general contractor within sixty (60) calendar days from the CDBG contract execution date with Miami-Dade County;
  • Must be able to prove that the project will create one permanent full-time job for every $35,000 awarded. Created jobs must be maintained for a minimum of one (1) year.

(Construction jobs and jobs related to the development of the project may not be counted toward meeting the National Objective);

  • Must be able to provide proof that at least 51% of the jobs created will employ low-to-moderate income persons;
  • Must adhere to a mandatory income verification process; and
  • Must have a project completion timeline of 24 months or less.
  • Must demonstrate the market and financial feasibility of the proposed project, which shall be determined by PHCD, in its sole and absolute discretion.
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Ongoing Responsibilities and Monitoring

Agencies receiving CDBG funds will be required to submit quarterly progress reports and will be subject to an annual monitoring site visit. The reports will be reviewed to assess the activity’s progress in creating jobs for low- and moderate-income persons. The awardees must document and maintain records of loans provided, jobs created, as well as the training, technical assistance, and all other services provided for five (5) years after the national objective is met.

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2012 - no projects funded

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2013

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Page Last Edited: Mon Jun 3, 2013 11:11:07 AM
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