Economic Recovery Resources - Weekly Update* |
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The Houston-Galveston Area Council and the Gulf Coast Economic Development District stand ready to assist the 13-county region in pursuing strategies to restore local economies. We will be issuing this Economic Recovery Resources - Weekly Update to help our local partners stay on top of new funding opportunities. Subscribers to the monthly Regional Economic Development Digest will receive the update automatically. We hope to make it easier for you to secure the resources you need to recover quickly.
Please email Jillian Donatto or call 631-897-3817 to discuss economic recovery needs you may have.
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*The Economic Recovery Resources will be issued every other week beginning January 25
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Updates to Small Business Administration’s Paycheck Protection Program, Open Today |
The U.S. Small Business Administration’s Paycheck Protection Program (PPP) reopens this week for new borrowers and certain existing PPP borrowers. The $900 billion COVID-19 relief package allocated $284 billion to the PPP through March 31, 2021 with some key revisions. The revised program expands eligibility to include 501(c)(6)s, housing cooperatives, and destination marketing organizations among other types of organizations; covers additional expenses including operations expenditures, and worker protection expenditures; lets borrowers set their loan’s covered period to be any length between 8 and 24 weeks; and allows existing borrowers to modify their First Draw PPP loan amount or apply for a Second Draw PPP loan. Read more guidance from the Small Business Administration.
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Grant Funding for Public Lands Through Restoration & Resilience COVID Recovery Fund |
The National Environmental Education Foundation (NEEF) is allocating $128,000 in grant funding to support public lands that have been impacted by increased use during the COVID-19 pandemic through the Restoration & Resilience COVID Recovery Fund. Local governments, non-profit organizations, and educational institutions can apply for up to $2,500 to help mobilize volunteer networks, pay for maintenance projects or accessibility improvements, or conserve public lands. Applicants must clearly describe the impact of the COVID-19 pandemic on the public land site. NEEF is accepting applications until June 2021, with application deadlines on February 1, April 1, and June 1.
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LCRA Grants for Community Improving Capital Projects Open Until January 31 |
The Community Development Partnership Program (CDPP) from the Lower Colorado River Authority is accepting applications for community improvement capital projects. Organizations in all or part of Austin, Colorado, Harris, Matagorda, Waller, and Wharton counties in the H-GAC region are eligible to apply. CDPP grants are awarded twice a year for capital projects for volunteer fire departments, emergency responders, cities and counties, schools, libraries, civic groups, museums and other nonprofit organizations. The projects must benefit or be available to an entire community and must improve the value of a capital asset by building, renovating or purchasing equipment. The application deadline is January 31. Learn more.
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Small Business Resources
News, funding opportunities, and other support for small businesses in the Houston-Galveston region.
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Small Business Financing Opportunities through H-GALDC
Serving as H-GAC’s small business financing arm, the Houston-Galveston Area Local Development Corporation (H-GALDC) is able to help new or established small businesses access capital to purchase and develop real estate. With interest rates at all-time lows, now may be the time to move your business from a lease to a mortgage. H-GALDC also leverages funding from the Small Business Administration and the Economic Development Administration to offer a variety of loan products. Loans can range from $25,000 for working capital to over $5,000,000 for the purchase of land and new construction. For more information about H-GALDC and its resources visit hgaldc.com, or email [email protected].
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Upcoming Rural Small Business Grants
On January 26, the Local Initiatives Support Corporation will open another round of the Rural Relief Small Business grant program for small businesses in a rural community facing immediate financial pressure due to COVID-19. Rural communities are defined as having a population of 50,000 or less. Applicants can be awarded between $5,000 and $20,000 for expenses including rent and utilities, payroll, debt payments, and other immediate operational costs. The application deadline is February 2.
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Federal Funding for Rural Communities |
The U.S. Department of Agriculture’s COVID-19 Federal Rural Resource Guide organizes funding opportunities identified in the CARES Act and other federal resources that can help support rural America.
Grants and loans to construct, enlarge, or improve essential community facilities in rural areas.
Loans and grants to a non-profit entity or institution of higher education to establish revolving loan funds for rural micro-loan borrowers and micro entrepreneurs, or to provide training and technical assistance to micro entrepreneurs.
Loan guarantees to lenders supporting rural businesses and agricultural producers to supplement their working capital to prevent, prepare for, and respond to the coronavirus.
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Federal Funding for All Communities |
For construction or non-construction projects that prepare for or respond to economic impacts of the coronavirus pandemic, create jobs, and/or generate private investment.
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Upcoming Economic Recovery Webinars |
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This webinar will discuss the macro-economic trends and policy environment which have resulted in widespread housing unaffordability in communities across America and the elements of successful multi-sector housing reform initiatives.
This webinar from FEMA Region 3 will explore federal guidance and resources available to help communities prepare or update a hazard mitigation plan.
COVID-19 has made it challenging for small businesses to price goods or services. Learn about how to set professional fees and how and when to offer discounts.
Webinar attendees will learn how to address infrastructure challenges in disinvested neighborhoods, innovative solutions to address climate change in urban and rural areas, and why now is a good time to seek financing for major projects.
Join this webinar to learn how transit agencies are adapting transit during the pandemic by retiming and fine tuning routes and schedules as well as adjusting demand response services. This webinar will include rural transit planning basics and best practices.
Join this installment of the CDFA // BNY Mellon Webcast Series for a forecast on the economic recovery and how it will affect the bond market. Since the onset of the COVID-19 pandemic, the bond market outlook has fluctuated amid economic uncertainties, trade tensions, and a fluctuating yield curve.
Hear how two regions—one responding to the closure of coal-fired power plants and the other to the loss of the paper mill industry—have positioned themselves for economic recovery. This webinar will provide a framework and resources for supporting transition and diversification efforts in your community.
Join for business tax information to ensure your company is prepared to file correctly after receiving financial assistance. Many businesses that have been severely impacted by coronavirus (COVID-19) will qualify for new employer tax credits.
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Visit the GCEDD website for information and links to local, regional, and partner organizations that have additional resources and information on economic recovery. A select list is presented below.
The Greater Houston Partnership has established the Greater Houston Business Recovery Center (GHBRC), which will provide guidance on policy and financing related to recovery programs.
RestoreYourEconomy is your resource for up-to-date information related to COVID-19 and its economic impacts.
The Texas Economic Development Council COVID-19 webpage catalogs webinars, small business program examples, research white papers, Texas Workforce Commission resources, and advice for retailers.
The National Association of Development Organizations COVID-19 resource center provides advocacy resources, upcoming virtual events and trainings, federal agency COVID-19 resources, national partner organizations response resources, Office of Management and Budget guidance, state-by-state workforce guidelines, and philanthropic resources for communities.
The International Economic Development Council Coronavirus Response webpage provides information on the IEDC's COVID-19 webinar series and frequently updated situational reports.
A wide range of free resources for Main Street leaders, including recovery planning tools, research, and best practices and examples from around the Main Street Network.
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Gulf Coast Economic Development District
713-627-3200
The Economic Recovery Resources - Weekly Update is published by the
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