ECONOMIC DEVELOPMENT MATCH GRANT

Purpose The Economic Development Match Grant is designed to bring other funders together, and to support economic development projects within Woodbury County that need potentially higher levels of funding and collaboration.

The project submitted must align with at least one of four focus areas:

1)     creation and retention of jobs,

2)     development of a critical job force,

3)     new project or service having a substantial impact on the community, and

4)     improved quality of life and community development project.

The project must:

  • be sustainable after the allowable grant period and not require additional grants to maintain over the long term,

  • be a demonstrated priority by the community (supporting evidence required),

  • create demonstrable impact on economic development in Woodbury County and/or the target population, and

  • leverage private, public and/or community resources and maximize collaboration with stakeholders throughout the community.

Match Required dollar-for-dollar match, The Grant Recipient must match every dollar awarded. No more than fifty percent (50%) of the required match may be in the form of In-Kind Contributions.

Maximum Award $250,000 up to $1,000,000

Available Funding In total, $1,000,000 is available for the FY24 grant cycle.

Geographic Funding Area Woodbury County, IA

Time to Complete 4 years after the Award Date. The Grant Recipient shall commence construction of its project by the second (2nd) anniversary of the Award Date. The project must be completed by the fourth (4th) anniversary of the Award Date. An Economic Development Match Grant Recipient shall be required to execute a written agreement with MRHD and must adhere to all provisions of such agreement throughout the grant period to maintain eligibility for the award.

Eligibility for Other Grants Grant Recipients may have other active MRHD grants. Grant Recipients may also apply for other MRHD grants if they meet the eligibility requirements for the respective grant.

  • June 1st, 2024 - Application Period Opens

    June 30th - Application Period Closes

    August 2nd, 2024 - Funding Decisions Announced

    August 22nd, 2024 - Grants Awarded

  • Applications will only be accepted from educational entities, local governments, and tax-exempt organizations whose principal place of business and project are in Woodbury County, IA.

    Tax-Exempt Organizations may only submit one (1) application per funding opportunity, whereas Local Governments and Educational Entities may submit more than one (1) application per funding opportunity as “individual units” within these organizations are considered separate and may each submit one (1) application per funding opportunity. Each funding request must be for a distinctly different project or a distinctly different phase of a larger, multi-phase project.

  • Projects must improve quality of life for Woodbury County residents and align with at least one of MRHD’s four Economic Development focus areas.

    Only eligible applicants whose principal place of business and project are in the Geographic Funding Area may apply.

    Applications for the Economic Development Match Grant will only be accepted via an online application process using the Foundant Grant Lifecycle Manager software.

    During the Application Period, applicants will submit information to validate their eligibility to apply and their request for funding. The grant application must be deemed complete before it can be advanced for evaluation by a grant review committee.

    Applicants who fail to submit a complete grant application and receive confirmation from MRHD of it being complete approval during the Application Period will be denied.

    Local Governments must provide proof of their Employer Identification Number (EIN) and a signed Letter of Intent from the head of the organization (County Board of Supervisors Chairperson, City Mayor, or City Manager/Administrator) that approves the unit’s grant request and agrees to accept MRHD funds.

    Tax-Exempt Organizations must provide proof of their tax-exempt status, proof of Employer Identification Number (EIN), and a signed Letter of Intent from the head of the organization (Board of Directors President, Chief Executive Officer, or Executive Director) that approves the organization’s grant request and agrees to accept MRHD funds.

    Projects that involve a partnership or collaboration with another entity must provide a signed Letter of Agreement from each respective partner that acknowledges their agreement with the applicant’s proposal, describes their level of involvement, and if applicable, includes a statement of financial commitment detailing any cash or in-kind contribution the organization is providing and shall also describe any plans to continue the project after the grant funding ends, or a transfer of ownership of any project deliverable occurs.

    Applicants partnering with another entity that will be the beneficiary of the grant proposal must include a statement in their Letter of Intent that the applicant will not receive or accept any direct benefit from the project beneficiary, such as a reduction in rent, fees, or charges, in a situation in which the applicant uses the beneficiary’s facilities.

    Applicants must fully disclose in their Letter of Intent all relationships with any individual or entity, such as bidders, vendors, suppliers, or contractors that will, or may benefit directly or indirectly from the funds for which the grant is requested.

    Grant recipients are required to provide a Certificate of Completion upon completion of the grant project.

    Grant recipients must submit any request to amend or extend a Grant in writing to MRHD specifying the reason(s) for the request and the specific amendment or extension requested. Grant recipients must receive writing approval from MRHD prior to any change is made.

    Failure to comply with the grant requirements will prohibit the organization from receiving a grant from MRHD in the future.

  • Geographic Funding Area - Woodbury County, IA.

    Educational Entities - includes public and private schools (preschools, elementary schools, secondary schools), public and private institutions of higher education (colleges, universities, technical/trade schools), education agencies (state, regional, local), and “individual units” within these entities, such as operating departments, academic departments, and school-sponsored extracurricular groups.

    Local Governments - includes counties, cities, federally recognized tribal governments, and “individual units” within these entities, such as departments, divisions, boards and commissions, and publicly owned venues, such as libraries and museums.

    Tax-Exempt Organizations - includes charitable, religious and other nonprofit organizations that have received an IRS Determination Letter granting the organization tax-exempt status under IRC Section 501(c)(3) and such Determination Letter has not been revoked.