Allegany County Government is pleased to announce the launch of Invest Allegany, a $2,000,000 investment program split over two years to create long term economic growth.
Donor Name: Allegany County Government
State: Maryland
County: Allegany County (MD)
Cities: Cumberland, Frostburg
Type of Grant: Grant
Deadline (mm/dd/yyyy): 05/06/2022
Size of the Grant: $20,000 to $250,000
Details:
The Allegany County Commissioners are allocating these funds to help accelerate the county’s business community recovery, and support redevelopment of the downtown cores of Cumberland and Frostburg, as well as main streets across Allegany County.
The goal of this program is to create long term value in the county by providing matching grant funds for capital improvement projects. These projects, when complete, will spur new job growth, encourage direct investment, preserve existing community infrastructure, increase the value of commercial and residential units in impacted areas, and ignite entrepreneurship in Allegany County.
Funding Information
Awards range from a minimum of $20,000 to $250,000.
Eligible Uses
- Eligible uses include commercial, retail, mixed-use, or multifamily market rate residential projects. Single family homes, student housing rentals, and/or duplexes will not qualify.
- Funds must be used towards capital improvements with consideration for allotting up to 10% of grant requests to be used towards capital goods.
Criteria
- All projects shall comply with federal, state, and local codes, laws, and ordinances.
- Applicants must be for-profit, tax-paying entities. Applicants who are not in good standing with the County or State of Maryland are ineligible for funding.
For more information, visit Invest Allegany.
