American Recovery and Reinvestment Act of 2009 Opportunities

Recovery Zone Economic Development Bonds and Recovery Facility Bonds

 

Governor's Executive Order 102 (2009)

The Governor recently signed Executive Order Number 102 (EO102) dealing with Recovery Zone Economic Development Bonds and Recovery Zone Facility Bonds.  EO102 does a few important things:

1) Moves the deadline for applying for these bond programs to January 12, 2010 from December 15, 2009;

2) Provides additional detail in what documentation must be provided with an application, including broadening the allowable types of documentation needed to evidence the salability of such bonds;

3) Provides detail on how applicants may apply for using unused allocations of bonds under these programs. Applications for these re-allocations are due by January 5, 2010.

The full EO102 may be found here, and the general application form due January 12th may be found here.

A letter sent to the Virginia Municipal League and the Virginia Association of Counties by the Governor’s Chief of Staff that provides additional detail about the re-allocation process is available here. Last, the application form for a re-allocation request may be found here.

Contact your local bond counsel if you have questions.

$150 Million Federal Funding Opportunity Available for EDA's American Recovery Program

 

EDA is pleased to announce the solicitation of applications under its $150 million American Recovery Act Program.  EDA is soliciting applications from eligible applicants in all U.S. States to fund projects that will advance economic growth in communities and regions experiencing chronic high unemployment and low per capita income.  EDA’s goal is to create an environment that fosters innovation, promotes entrepreneurship, and attracts increased private capital investment.  The deadline for receipt of applications under the Recovery Act Program is June 30, 2010.  All other information and requirements for the EDA American Recovery Act Program may be found in the March 10, 2009 Federal Register notice (74 FR 10232) and the companion federal funding opportunity announcement on EDA’s website at www.eda.gov/InvestmentsGrants/FFON.xml.