The objective of the Rural Maryland Prosperity Investment Fund (RMPIF) is to help raise the overall standard of living in rural areas to a level that meets or exceeds statewide benchmark averages by 2030 while preserving the best aspects of cultural heritage and rural way of life.
Donor Name: Rural Maryland Council
State: Maryland
County: All Counties
Type of Grant: Grant
Deadline: 05/17/2024
Size of the Grant: More than $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
Resources provided to RMPIF are designed to facilitate significant targeted investments in important economic and community development programs and promote regional and intergovernmental cooperation. These investments will also enable local and regional public and nonprofit organizations to leverage additional non-state financial and human resources to facilitate the realization of sustainable rural development objectives. The Fund will serve the interests of the entire State by:
- Encouraging the increase of entrepreneurial activity and commerce and a balanced economy in the State;
- Relieving conditions of unemployment and underemployment in rural areas;
- Assisting in the retention of valuable farm and forest land for productive use by present and future generations;
- Promoting intergovernmental cooperation and public sector/private sector partnerships in and between rural and other areas;
- Enhancing the deployment of housing, transportation, water, wastewater, and broadband communications infrastructure and services in rural areas;
- Supporting rural commercial center redevelopment and community revitalization efforts; and,
- Generally promoting the health, happiness, safety, employment opportunity, and general welfare of the residents of each of the rural counties and municipal corporations of the State.
Funding Information
For Fiscal Year 2025, the State has budgeted $1,500,000 in General Funds for the entrepreneurship portion of the RMPIF program.
Eligible Expenditures
- Salaries and Wages are allowable expenses. It is strongly encouraged to include a statement on sustainability for future years.
- Administrative costs including construction, leasing, and renovation of buildings are eligible expenses Acquisition of land is not. The purchase or rental of vehicles are eligible expenses. The purchase of equipment is an eligible expense. These administrative expenses should not exceed more than 25% of the grant request. Quotes for purchases and construction work should be included.
- Meals are allowable if the costs are reasonable and a justification is provided that such activity maintains the continuity of the meeting and to do otherwise will impose arduous conditions on the meeting participants.
- Indirect administrative costs are capped at 10%.
Eligibility Criteria
Applicants must be a local government, institute of higher education, regional council, or be a 501(c)(3) IRS tax designation or similar and serve a regional or statewide rural constituency. Community Colleges, Career Technology Centers, Regional Councils, and Libraries are eligible applicants. The applicant does not have to be located in a rural area or in the area it serves.
For more information, visit RMC.
