Opportunity Title:
CARES Act Economic Recovery Corps and Equity Impact Investments
Opportunity Number:
EDA-HDQ-RNTA-2022-2007441
Description:
This NOFO funds two distinct programs, both of which are described in more detail below, and designed to support underserved communities and populations across the country in developing successful economic development plans and projects: 1) the Economic Recovery Corps Fellows program and 2) the Equity Impact Investments program.
The Economic Recovery Corps program will add staff resources to local organizations focused on improving economic resilience and competitiveness in distressed regions across the country.
EDA is seeking applications from eligible parties to create and launch a nationwide network of Economic Recovery Corps Fellows (Fellows) to help regions recover from the coronavirus pandemic by providing supplemental staff resources (i.e., Fellows) to economic development capacity-building organizations to increase their ability to effectively engage in local and regional economic development. Eligible applicants should consider strategies to build and form a national initiative that will place and coordinate Fellows across America to support two key activities:
Technical Assistance – enable communities to access funding and participate in economic development programs and initiatives through preparation, training, and implementation assistance
Knowledge and Insights – study, organize, and disseminate information, data, and analysis to accelerate the adoption of future-focused economic development principles and practices
Eligibility:
Eligible applicants under the EAA program include a(n): (i) District Organization of an EDA-designated Economic Development District (EDD); (ii) Indian Tribe or a consortium of Indian Tribes; (iii) State, county, city, or other political subdivision of a State, including a special purpose unit of a State or local government engaged in economic or infrastructure development activities, or a consortium of political subdivisions; (iv) institution of higher education or a consortium of institutions of higher education; or (v) public or private non-profit organization or association acting in cooperation with officials of a general purpose political subdivision of a State unless EDA waives the cooperation requirement.Under its EAA program, EDA is not authorized to provide grants or cooperative agreements to individuals or to for-profit entities.
Total Amount Available:
$35,000,000
Maximum Award:
$30,000,000
Minimum Award:
$3,000,000
Application Deadline:
August 5, 2022
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