The Finance Fund is accepting 2022 Predevelopment and Economic Development grant applications.
Donor Name: Finance Fund
State: Ohio
County: All Counties
Type of Grant: Grant
Deadline: 05/31/2022
Size of the Grant: Up to $100,000
Details:
Finance Fund works with non-profit community-based organizations seeking seed funding to determine project feasibility or to move projects forward. Grants are made to eligible organizations that work to meet the needs of low- and moderate-income communities in Ohio.
Grants are designed to create a better quality of life for people living in economically distressed urban and rural communities.
- Predevelopment Grant: These grants provide funding for projects that expand affordable housing options. Grants up to $30,000 are available for eligible uses such as feasibility studies, market studies, business plans, architectural drawings, appraisals, engineering, environmental studies, and professional fees.
- Economic Development Grant: These grants provide funding for self-sustaining projects that create permanent private sector jobs to strengthen an area’s economic base. Grants up to $100,000 are available for hard construction costs and fixed assets such as real estate acquisition, machinery, equipment, furniture, fixtures, etc.
Funding Information
- Economic Development: $100,000 (up to 30% of total project costs – not to exceed $100,000)
- total project costs is $1,000,000 – max award is $100,000
- total project costs is $300,000 – max award is $90,000 (30%)
- Predevelopment: $30,000
Eligibility Criteria
- Organizations must be established for a minimum of two years
- Incorporated as a 501(c)3 nonprofit
- Bylaws must include language regarding communitybased nature of organization with purpose to meet the needs of a geographically defined low-and-moderate income neighborhood, community, or target area
- Board must have at least 1/3 LMI representation as required by Bylaws
- Evidence of financial capacity as a viable entity, and ability to see project to completion
- Must not be Chamber of Commerce or unit of local government
- If previous awardee, must have drawn all grant funds and fulfilled any other requirements
Eligible Projects
- Economic Development: Economic development which assists in stabilization and strengthening of local economies, includes the creation of permanent jobs; may include housing development as well.
- Predevelopment: Affordable housing development
For more information, visit Finance Fund.
