OED & IT Business Finance Programs

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INFRASTRUCTURE ASSISTANCE PROGRAM SUMMARY

Purpose
The infrastructure assistance program is designed to create new permanent jobs and retain existing jobs, primarily for low- and moderate-income persons. This program encourages new business development, expansions and retentions of businesses located in non-entitlement cities and counties (that shall minimize, to the extent practicable, displacement of existing businesses and jobs in neighborhoods).

Funding Source
The funds utilized for this program are federal funds from the US Department of Housing and Urban Development; therefore, there are federal requirements which must be met. The Office of Economic Development (through an interagency contract with the Department of Local Affairs) may provide infrastructure assistance in support of specific businesses through an eligible city or county that is willing to take the financial risk in order to create or retain jobs. Additionally, all other businesses which will create or retain jobs as a result of the improvements may be required to comply with the program's primary objective, creation or retention of jobs for low-to-moderate income benefit.

Eligible Projects
Typically eligibly improvements are owned and/or maintained by a public or quasi-public entity. Funds may be provided for the construction and/or improvement of:

Water Lines & Wastewater Facilities
Sewer Lines, Sewage Treatment Facilities
Roadways
Natural Gas-Line Services
Electric Power Services
Railroad Spurs
Lighting
Sidewalks
Alternative Power Sources such as Solar
Requirements
Eligible applicants are non-entitlement cities and counties. Contact the Office of Economic Development (OED) to determine applicant eligibility. The eligibility requirements include:
Assisted businesses must demonstrate project feasibility and financial capability to develop the proposed plans that will result in creating and/or retaining jobs primarily for low-and moderate-income persons.
At least one full-time equivalent job must be created and/or retained for every $20,000 of assistance.
Final funding decisions are made by the state's Financial Review Committee.
Terms
For businesses that have been operating for at least three (3) years, the assistance may not exceed fifty percent (50%) of the total cost of the defined project.
For businesses that have been operating for less than three (3) years, the assistance may not exceed thirty-five percent (35%) of the total cost of the defined project.
The minimum award is generally $100,000. OED will consider requests for less than $100,000 on a case-by-case basis.
The maximum award is $500,000. OED will consider requests for more than $500,000 on a case-by-case basis.
Process
A business should contact their local government where the project is located as federal guidelines require the local government to make an application for funding in support of the business. Prior to submitting a pre-application, the applicant and the business must complete an application workshop and a specific project consultation with OED staff. In some cases, it may be possible to request an individual project consultation in place of the required workshop; however, this determination must be made on a case-by-case basis as time allows. The applicant and the business requesting assistance must complete a pre-application which is submitted to the Office of Economic Development for processing. If the pre-application is recommended for funding by the Financial Review Committee, the applicant is invited to submit a formal application which is due within 45 days of such notice. For further information or to obtain an infrastructure application (pre-application and formal application), please contact:

Office of Economic Development & International Trade
Business Finance Division
Alice Kotrlik or Ken Gabriel
1625 Broadway, Suite 1700
Denver, Colorado 80202
(T) 303-892-3840
(F) 303-892-3848
1-800-659-2656 TDD