LOUISVILLE, Ky. – The Louisville Metropolitan Government and the University of Louisville are planning to submit a joint application for funding to the US Economic Development Administration’s New Regional Build Back Better Challenge and are hosting a public presentation meeting to bring together several project ideas that could be part of the project. ‘a broader proposition.
The Build Back Better regional challenge is designed to help communities nationwide by accelerating economic recovery from the coronavirus pandemic and building local economies that will be resilient to future economic shocks. The billion dollar challenge will provide a transformational investment to 20 to 30 regions across the country that want to revitalize their economies. These regions will have the opportunity to develop new regional industrial clusters or expand existing ones through planning, infrastructure, innovation and entrepreneurship, workforce development, access to capital , etc.
The EDA calls for a coalition approach, bringing together state and local governments, labor and community organizations, industry, universities, research institutes, philanthropy and nonprofits. Successful coalitions will build technical assistance and coordination around three to eight closely aligned projects and receive up to $ 500,000 for Phase 1 concept proposals. They will also be eligible to compete for Phase 2 funding of up to $ 500,000. reach $ 75 million.
The Louisville Metropolitan Government and UofL are hosting the public presentation meeting on Tuesday, August 17, from 4 p.m. to 6 p.m., at the main branch of the Louisville Free Public Library, 301 York Street. Individuals or groups can stop at any time during this window, and they will have five minutes to present their idea.
Participants who wish to present a project idea but cannot attend the meeting can submit a concept statement of up to 50 words to [emailÂ protected] before 6 p.m. on Tuesday, August 17. Selected locations will have the opportunity to submit a 400-word one-page summary of their proposal, as well as a one-page budget summary. Ideas should follow the guidelines specified in the EDA Build Back Better Regional Challenge Funding Opportunity Notice.
The first applications are due to be submitted to the EDA on October 19, after which it will award 50 to 60 coalitions up to $ 500,000 each to write a more detailed proposal. These proposals are expected on March 15, 2022 and will allow 20 to 30 coalitions to receive grants of between $ 25 million and $ 75 million to implement their plans.
Learn more about the regional Build Back Better challenge and its requirements at www.eda.gov/arpa/build-back-better.
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