CDBG Economic Development Program Grant

Funder: Illinois Department of Commerce and Economic Opportunity (DCEO)

The CDBG Economic Development Program, managed by the Illinois Department of Commerce and Economic Opportunity, provides grants to local governments to support private businesses that create or retain jobs for low-to-moderate income workers. Grants can be used for public infrastructure improvements and are awarded based on project feasibility and need, with a ceiling of $1,000,000 per award, ensuring economic growth in eligible communities.

Community Development Block Grant Economic Development Program (IL)
The purpose of Community Development Block Grants for Economic Development to assist communities attract or expand private businesses. The program provides financial assistance in the form of a grant to the local government for the benefit of private businesses that create or retain jobs primarily for low-to- moderate income workers. Grants may also be used to support public infrastructure improvements to support economic development as an indirect benefit to a private business. The Economic Development component funds are available on an as-needed basis throughout the year to all eligible applicants meeting program component requirements until all funds allocated to this component have been distributed. Additional funds may be available. All awards in this category are predicated upon project feasibility and a demonstrated need for funds. This will include a review of all sources and uses of funds, an analysis of the recipient’s ability to comply with the terms of the program, and a determination that CDBG participation is appropriate.Grants are awarded on an as-needed basis throughout the year to units of general local government meeting eligibility and program component requirements until all funds allocated to this program have been distributed. All awards in this category are predicated upon project feasibility and a demonstrated need for funds. This will include a review of all sources and uses of funds, an analysis of the recipient’s ability to comply with the terms of the program, and a determination that CDBG participation is appropriate. The grant ceiling has been established at $1,000,000 per award. The grant funds awarded shall not exceed $10,000 per job for any job that is retained and $25,000 per job for any job that is created.