About the Community & Neighborhood Development Program ||| Currently Funded Activities ||| Results ||| Proposal Qualifications and Process ||| Materials Available from Us ||| How To Contact Us
Facilitate Private Sector New Job Creation
Preferences ||| Rules ||| Activities
These activities help existing businesses grow to create jobs for lower income persons. The City places a priority on helping existing businesses (which serve an export market, or which serve the CDBG target neighborhoods) to grow or locate expanded businesses within these neighborhoods. The activities include a business loan program and the facilitation of business incubator space within the CDBG Target Area. Activities address Objectives B1 and B2 in the Five-Year Plan and generally serve households with 80% of the median income or less.
The Commission will fund activities which:
assist businesses through the provision of loans or equity funds, to expand in order to create new positions.
assist businesses to recruit and train low or moderate income persons to be hired into newly created positions within the business, as part of a larger business expansion project funded by the Community and Neighborhood Development program.
The 2000 target goal is to help businesses to create at least 41 new jobs available to lower income residents.
For information on how to submit a proposal in this category, click here.
The Commission will give preference to activities which target the development of new full-time jobs which pay at least two times the minimum wage rate.
Businesses may include not-for-profit entities which operate like a business to serve a fee-paying market and demonstrate a predictable source of revenue based upon sales for services not funded by the City.
Require the recipients of loans or equity investments to agree to create or retain, at a minimum, one full-time job at a minimum wage rate for every $10,000 of CDBG funds received, and one full-time job at two times the minium wage rate for every amount between $10,000 and $20,000 of CDBG funds received. At least 51% of the jobs created must be taken by low or moderate income persons.
Require that any job retention effort meet the HUD requirements for "retention".
Assist groups which help businesses to recruit and train low or moderate income persons only when the job for which the person is receiving training has been identified before the training begins, when the business or agency with the job has committed to hire the trainee upon completion of the training program, and when the position for which the person is being trained pays at least the City of Madison's Living Wage amount per hour.
Ongoing / currently funded activities in this category include:
Madison Development Corporation: Business Loan Program
Common Wealth Development: Housing / Equity Fund
Genesis Development Corporation: Incubator Development