The Community Development Block Grant (CDBG) Planning and Feasibility Study Grant assists Colorado communities in planning economic development projects aimed at creating or retaining permanent jobs. To qualify, projects must create or retain at least one full-time equivalent job for every $20,000 funded, with a requirement that at least 51% of the jobs created or retained be filled by low- to moderate-income individuals. The program can award up to $75,000 in grants annually, funded by the U.S. Department of Housing and Urban Development’s State CDBG program, which allocates funds for community and economic development across Colorado.
The grant is available to communities in Colorado, with a rolling application deadline. Applicants must provide a 1-to-1 match of non-State funding to State funding. Certain projects, such as those with historic or commercial importance, are not eligible. Additionally, specific areas within Colorado, including certain counties and cities, are excluded from eligibility. The application process involves consultation with regional business loan fund managers and submission of various documents, including a business plan and financial statements.
