085-2 Wyo. Code R. §§ 2-4 - Economic Development Infrastructure Grants

(a) Funds have been set aside for economic development infrastructure grants. Such grants will allow communities to purchase and/or improve sites for the benefit of a specific identified business project.

(b) The primary intent of this program is to provide funds to local governments to pay for services that the entity normally provides to a business at a certain cost. Normally, this involves sewer and water lines, fire protection, power lines, roads, public access, etc. Funding to purchase buildings and/or land is eligible, but only if the local government intends to maintain ownership of the property. The government entity could lease the property to the business for a nominal amount, or could negotiate a lease/purchase agreement with the company. The program does not intend, however, for local government to purchase land and/or a building to give to a business entity.

(c) Requirements that must be addressed in the application:

(i) A detailed description of the proposed use of the funds, a map of the site, explanation of ownership, and an expert and concise cost estimates must be provided;

(ii) The business(es) to be benefited must submit a business plan , three years financial statements and tax returns to the Wyoming Business Council. The grant may be denied if the business is not determined to be viable;

(iii) In the event that no new jobs are planned to be created, documentation must be provided that demonstrates at least 51 percent of the current employees are from low/moderate income households. If the application is based on job retention, it must be documented that the existing jobs will be lost if the grant is not approved and the infrastructure not completed;

(iv) If the business is new, there must be a signed commitment by the business that their relocation or expansion will occur and a list by job titles and annual income of all new jobs to be created;

(v) The business must certify that at least 51 percent of all new jobs created will be made available to low to moderate income individuals;

(vi) A statement of proposed impact upon the community;

(vii) Documentation by the community that no other funding source exists;

(viii) Certification by the local government and the business that in the event the business does not locate on the improved site, all grant funds will be returned to the state;

(ix) Evidence that the SHPO was contacted and consulted and a brief narrative of the results of the consultation (See Chapter 1, Section 13);

(x) An assessment of probable operation and maintenance costs of the facility or site improvement(s) to be constructed using CDBG funds, and an explanation of how those costs will be funded;

(xi) A narrative explanation of how the project will either directly or indirectly provide for the creation and retention of jobs that are, available to low to moderate income persons and aid in the diversification of the Wyoming economy;

(xii) A detailed project budget;

(xiii) Signed Certification of Applicant and supporting documentation for the citizen participation process including a copy of the public notice, resolution and a copy of the official meeting minutes;

(xiv) A draft development agreement and evidence of the business' good standing with the Secretary of State's Office;

(xv) Site map and photographs of the project site;

(xvi) If the project involves acquisition it is imperative that the applicant contact the WBC and should not execute any agreements prior to doing so;

(xvii) In determining the selection of projects, each application will be reviewed for completeness based upon the requirements listed previously. Each application will be using the numerical system that follows:

(A) Cost per job - Up to 20 points. If the CDBG total cost of the project is $5,000 or less per retained or newly created job, a total of 20 points will be awarded. $10,001 to $15,000 per job will receive 15 points. An expenditure/job ratio of $15,001 to $25,000 will be 10 points; and $25,001 to $35,000 will be 20 points. If the total cost of the project exceeds $35,000 per job, then zero 5 points will be awarded.

(B) Potential economic benefit/job creation- Up to 20 points. - it is important to demonstrate the overall economic boost that would accrue to a community if the grant is awarded. Emphasis will be placed on documentation of jobs retained (if applicable), job creation, and the positive impact to local, regional and state economic development efforts.

(C) Integrated Effort - Up to 50 points.

(I) Partners-Up to 20 points. Are there partners in the project? Please describe them and their contribution. Up to 20 points.

(II) CDBG Percentage-Up to 10 points. What percentage is CDBG of the total project?

(1.) 0-25%- 10 points

(2.) 26-50%- 5 points

(3.)51-100-0 points

(III) Operations and Maintenance-Up to 10 points. How will operations and maintenance expenses be addressed?

(IV) Community Readiness-Up to 10 points. Is there community readiness potential in this project?

(d) A maximum of $500,000 per grant will be allowed.

Notes

085-2 Wyo. Code R. §§ 2-4