Loading...
HomeMy WebLinkAboutInclusive ED Request for Statements of Interest Request for Statements of Interest Inclusive Economic Development Support for Underestimated Businesses and Entrepreneurs Funding Made Possible Through the American Rescue Plan Act (ARPA) Local Relief Fund Issued: March 13, 2023 Two Informational Open House Sessions (optional): April 6, 2023 in City Hall @ 12 noon and 6:00pm Submittals Due: May 1, 2023 (4:00 p.m.) Background and Purpose On March 11, 2021, President Biden signed the American Rescue Plan Act (ARPA) into law. This legislation provided the City of Iowa City with local relief funds aimed to aid the community in addressing the impacts of the COVID-19 pandemic and helping build resilience throughout the community. In September 2021, the City Council identified guiding principles to assist in the prioritization of the use of federal relief funds. Further, the City Council identified initial priorities that encompassed emergent needs and strategic investments. One of the strategic investment priorities was to invest in the business support structures for Iowa City-based Black, Indigenous, and People of Color (BIPOC). To better understand needs and ensure strategic use of the one-time federal relief dollars, the City supported the development of a community-wide Inclusive Economic Development Plan that was coordinated by the Iowa City Area Development Group (ICAD) and led by Astig Planning. After months of planning work involving input from community presentations, focus groups, interviews, a survey, and a strategic doing process, Astig Planning presented the Inclusive Economic Development Plan to the City Council on September 20, 2022. In December 2022 the City of Iowa City adopted a new Strategic Plan that summarizes the vision, strategies, and key action steps over the next five years. Two key guiding values of the Strategic Plan include Racial Equity, Social Justice & Human Rights, along with Partnerships and Engagement. Further in the Economy Section of the Strategic Plan strategies were identified to ‘ensure appropriate infrastructure is in place for future business growth and development’ and ‘cultivate a strong entrepreneurial and small business ecosystem with a focus on creating new pathways for success for systemically marginalized populations. Lastly, a specific action item in the plan reads, ‘Utilizing American Rescue Act Funds, execute on agreeable recommendations in the Inclusive Economic Development Plan with a particular focus on actions that build long-term support and wealth-building opportunities for systemically marginalized populations.’ To advance this vision, the City Council decided to dedicate an estimated $4 million of American Rescue Plan Act (ARPA) funds and announce this Request for Statement of Interest opportunity seeking project and program concepts and demonstrating the capacity to manage, develop, partner, and implement said concepts. The City is looking for Statements of Interest that aim to execute the recommendations within the Inclusive Economic Development Plan in a manner that aligns with the values and goals of the adopted Strategic Plan. Grant Program Overview The City intends to award $4 million in grants and/or loans to one or more organizations that meet the goals of the aforementioned plans. Consistent with the recommendations in the “Inclusive Economic Development Plan”, the grant program anticipates making awards in two distinct categories: 1. Physical Space for multicultural business hubs, business collaboration spaces (shared retail, kitchens, etc.), and youth entrepreneurial and community centers. It is anticipated that approximately $3 million will be available for this category and eligible expenses include land acquisition, construction, remodeling, furniture and equipment, technology, and associated soft costs. 2. Business Support Programs that include small business grants and/or financing programs, technical assistance, community navigating services, and similar support networks. It is anticipated that approximately $1 million will be available for this category with an emphasis on programs that are designed to ensure long-term impact. The City retains the right throughout this grant program to adjust funding amounts and the number of awards based on information learned through the Statement of Interest process. Grantees will be required to meet all applicable federal, state, and local requirements related to the proposed project and funding sources. Successful grantees will demonstrate an ability to leverage City grant funds with other funding sources to carry out the project. Projects are anticipated to be completed (with all city funds being expended) by December 31, 2026. The City encourages applications that will demonstrate partnerships between multiple organizations and include multiple funding sources. Eligibility Applicants must meet the following eligibility requirements: • Both non-profit and for-profit organizations are eligible to submit a Statement of Interest. • Iowa City-based organizations must be the lead applicant on any proposal presented to the City. • Any physical space proposals must be located in Iowa City. Business support program proposals must be located in Iowa City or demonstrate a primary focus on benefiting/serving Iowa City businesses and residents. • Proposing organizations must be able to demonstrate an organizational ability to manage significant grant and/or loan funds. This does not preclude organizations that do not have said experience from applying. In such cases, the City will work collaboratively with successful organizations to provide technical assistance for financial management. At this time, interested parties need not worry about obtaining a State of Iowa Targeted Small Business designation. However, as proposals, programs, and/or projects are developed the City may require such designation and/or program requirements depending on the nature of the proposal. If needed, City staff will work with applicants that may need assistance to gain their Targeted Small Business designation. Statement of Interest Submission Requirements To be considered for funding completed Statements of Interest must be emailed to CMOadmin@iowa-city.org or delivered in person. Emailed applications must receive a confirmation email from City staff before the application deadline to be considered for funding. If applying in person (City Hall, City Manager’s Office, 410 E. Washington Street, Iowa City), make arrangements with a staff representative to ensure receipt before the deadline. Please call 319.356.5012 to make drop-off arrangements before arrival. Submissions are due by 4:00 PM, May 1, 2023. All Statements of Interest submittals must provide the following: 1. A cover letter identifying the lead applicant and, if any, co-applicants. Include the lead organization’s name, address, and the address of the project site (if known). Provide contact information (name, title, phone, and email) for the person leading the project. Please specify in the cover letter if the application is for (1) physical space, (2) business support programs, or both. 2. A general description of the project including the purpose, benefits, and specific goals of the project. Demonstrate the community benefit of the project using qualitative and quantitative measurements. Specifically, note how the project will accomplish the goals outlined in the Inclusive Economic Development Plan and City Council Strategic Plan 3. A description of how the project builds community resiliency following the COVID-19 pandemic by building capacity to serve residents of the community. 4. An estimated project budget including how much in City assistance you are requesting. Identify both the proposed sources and uses of funds for the total project. Identify if each funding source has committed funds. 5. A preliminary timeline for the execution of the project. The City intends for all grant funds to be expended by December 31, 2026. If this is not possible in the project schedule, please detail the estimated draw-down timeframe. 6. A statement about the organization’s ability to perform appropriate grant and financial management, including any related experience managing city, state, or federal grant funds. Provide 3 years of financial statements of the lead organization, if available. Please indicate what type of technical assistance may be needed to help prepare the organization for grant management responsibilities. 7. A description of all work related to the project that has been completed to date, if any, including any secured funding, contracted professional services, property, land acquisition, grant or loan activity, etc. 8. Any other information, including letters of support, the submitting agency deems appropriate. As the funding entity, no letters of support should be sought from City of Iowa City staff or elected officials. Evaluation Process All Statements of Interest that meet eligibility requirements will be evaluated by an internal team of City officials, including representatives of City staff and the City Council. The team, at their discretion, may interview one or more of the submitting agencies to gather more information or clarify project intent or detail. The City team will recommend to the City Council that the City work directly with one or more of the submitting agencies to develop a full proposal based on the preliminary funding recommendations for each project. Upon initial approval by the City Council, City staff will work with the selected applicant to develop comprehensive proposals and corresponding grant agreements for final City Council consideration. It should be noted that any physical space grants may also come with technical assistance funds for selected applicants to help fully develop project plans for a proposal. Resources The FY 2023-2028 City Council Strategic Plan: www.icgov.org/strategicplan Information on the City’s use of American Rescue Plan Act (ARPA) funds including the guiding principles document: www.icgov.org/arpa Inclusive Economic Development Plan: https://www.astigplanning.com/basic-01 September 2022 Presentation of the inclusive Economic Development Plan: youtube.com/watch?v=OsXCbTvN1fA (1h:44m time-mark of the video) – Presentation Slide Deck Attached Additional Questions Questions regarding this Request for Information can be directed to Redmond Jones, Deputy City Manager, at (319) 356-5012 or redmond-jones@iowa-city.org.