City of Fort Bragg
August 8, 2021
2022 Community Development
Block Grant Application
CDBG funds are intended
to improve economic opportunities,
meet community revitalization needs,
and provide decent, affordable housing.
Particularly, for persons of low to moderate income.
OVERVIEW
CURRENT OPEN AWARDS
The City of Fort Bragg has ten (10) open awards:
Parents & Friends Residential Care Facility for the Elderly Water Meter Replacement Project
Fire Station Rehabilitation
Municipal Ocean Water Intake & Discharge Infrastructure Code Enforcement Program
Business Assistance Loan Program
Microenterprise Financial Assistance Program
COVID-19 Utility Assistance Program (Round 1)
COVID-19 Utility Assistance Program (Round 2)
COVID-19 Business Assistance Program (Round 2)
Available Funds
Up to $1.5 million
Eligible Activities:
Business Assistance Loan
Program
Deadline:
August 19, 2022
Threshold Requirement:
Over 50% expenditure of like
Activity
2022 APPLICATION
Category Activity Amount Description
Economic
Development
Programs
(Competitive)
Business Assistance
Loan Program
Up to
$750,000
Direct loans to for-profit businesses,
activity delivery, and general
administration staff time.
Business Assistance Loan Program Proposed Budget:
2022 APPLICATION
Funding Category Amount
Activity
(Direct Loans to Businesses) $585,000
Activity Delivery
(15%) $112,500
General Administration
(7%) $52,500
Total $750,000
The program would be funded entirely with CDBG 2022 funding.
BUSINESS ASSISTANCE LOAN PROGRAM
Businesses may be loaned up to $300,000, with interest rates starting at 1%.
No loan fees.
For every $35,000 loaned, one full-time job must be created or retained, and 51% of those jobs are filled by members of the low- to moderate-income group.
Funds may be used for:
• Equipment
• Working Capital
• Debt Consolidation
• Real Property
• Inventory
• Construction
Conduct Public Hearing
Adopt Resolution Approving Application
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