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$10,000,000 in Equity Fund financing available
in two competitive rounds beginning January 15, 2025 and
May 15, 2025 |
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Competitive award process will be reviewed and
evaluated to determine most appropriate process for 2002 |
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$500,000 maximum assistance amount |
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Collaboration |
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Innovation |
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Cooperation |
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Adaptation |
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Regionalism |
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Effectiveness |
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Grants and loans for activities directly related
to economic development in Tier One and Tier Two counties |
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Jan 15th: 1st Round Applications Due
March 30th: 1st Round Awards |
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May 15th: 2nd Round Applications Due
July 31st: 2nd Round Awards |
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Sept 14th:3rd Round Applications Due
November 30th: 3rd Round Awards |
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Eligible applicants and recipients of grant and
loan funds include: |
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Cities and counties |
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local government authorities; and |
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joint or multi-county development authorities |
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Eligible subrecipients of grant and loan
assistance through an eligible applicant include: |
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private businesses (numerous legal entities);
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certain nonprofit corporations involved in
economic development activities. |
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Public infrastructure directly related to
economic development: |
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rail and road improvements |
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water and sewer improvements |
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technology infrastructure |
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drainage improvements, etc. |
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Facilities and services specifically designed to
increase economic opportunities: |
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job training |
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workforce development |
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education |
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other employment support services |
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the acquisition of real property; |
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site preparation and improvements; |
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real property rehabilitation; |
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the provision of planning services and technical
assistance; and |
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marketing and promotional projects to encourage
tourism. |
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Assistance to eligible applicants to finance
facilities, projects and project costs for use by businesses and
enterprises; |
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Purchase or lease of equipment or other assets;
or any other community or economic development and business assistance
activity or purpose identified in
the Development Authorities Law. |
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The financial capacity of the applicant and the
proposed use of Equity Fund monies
will dictate whether the funds will be provided as a grant, loan, or a
combination of the two. |
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In addition, certain activities involving
assistance to private businesses may require a loan, lease or other
agreement in order to comply with applicable law. |
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Application is from an eligible applicant; |
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The project takes place within a tier one or
tier two county or else takes place in a tier three county and meets the
regional criteria defined in
Section 413-1.07(7); |
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Activity is eligible and will be carried out in
accordance with state and local law; |
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Activities are consistent with Service Delivery
Strategies and comprehensive plans developed under Georgia Planning Act. |
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Eligible applications will be rated according to
the following criteria: |
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Review Factor Maximum Points |
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Tier Status 60 points |
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Project Feasibility 120 points |
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Project Impact 110 points |
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Project Strategy 110 points |
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Regional
Bonus 100 points |
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Total Points Available 500 points |
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Tier 1 60 points |
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Tier 2 40 points |
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Tier 3
20 points |
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60 Points Maximum |
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poor 0 points |
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below
average 30 points |
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average 60 points |
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good
90 points |
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excellent 120 points |
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120 points maximum |
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Project description is clear and documented |
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Project will generate positive net public
benefits |
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Evidence of applicant commitment and repayment
ability where applicable |
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Continued ... |
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Project readiness issues addressed |
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Underwriting analysis reflects feasibility |
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Costs are reasonable & documented |
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For regional projects, joint ownership/cost
sharing agreements are in place. |
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poor
0 points |
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below average 27.5 points |
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average 55.0 points |
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good
82.5 points |
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excellent 110 points |
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110
points maximum |
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Number and quality of jobs to be created or
retained |
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State’s cost per job to be created and/or
retained |
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Amount of public and private leverage |
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New/retained taxes |
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Continued ... |
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Improved economic competitiveness, potential
secondary/indirect benefits |
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Impact on regional poverty/unemployment |
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Removal of impediments to regional cooperation |
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Diversification of local/regional economy |
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poor 0 points |
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below
average 27.5 points |
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average 55.0 points |
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good
82.5 points |
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excellent 110 points |
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110
points maximum |
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Acceptable surety and/or claw back provisions |
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Workforce enhancement |
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Continued ... |
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Indirect local/regional impact |
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Alternatives considered and properly addressed |
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Project supports OneGeorgia's overall objectives |
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Continued ... |
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Innovative approach to job creation/ retention
in Rural Georgia |
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Project is not duplicative or redundant to
current or recent efforts |
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Other criteria as relevant to individual project |
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Regional Cooperation: 60 points |
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Regional Impact: 40 points |
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100 points maximum |
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Regional Cooperation= Multi-county |
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Ownership |
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revenue and cost-sharing |
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impact on service delivery |
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Continued ... |
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Regional Impact = Increase in: |
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jobs/employment |
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tax-base/revenue |
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educational opportunities |
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job training/workforce development |
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business incubation and development |
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Continued ... |
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DCA will make recommendations to the OneGeorgia
Authority based on the applicant’s total score |
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Final funding decisions will made by the
OneGeorgia Authority based on DCA’s recommendations and other factors as
may be identified by the OneGeorgia Authority |
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The OneGeorgia Authority will supervise all
funds and coordinate the marketing of OneGeorgia programs |
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OneGeorgia will contract with DCA for assistance
with awards and grants management services for both the Equity and EDGE
fund programs |
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Laura Meadows, Director |
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OneGeorgia Authority |
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1202-B Hillcrest Parkway |
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Dublin,Georgia 31021 |
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(478) 274-7734 |
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