|- Revolving Loan and Grant program to Encourage Creation or Retention of Private Sector Jobs
EDI Program Key Points:
Projects must comply with all applicable federal, state, and local regulations, meet the EDI Program objectives, and are consistent with the Whatcom County Comprehensive Plan, and/or the Whatcom Comprehensive Economic Development Strategy, or the comprehensive plan of the city or town affected by the project.
EDI loans and grants may be part of a larger package involving other funding sources. EDI loans and grants may be used to leverage other funding sources toward the total project financing.
Whatcom County will account for and return repayments of EDI loan principal and interest to the EDI fund.
Local match of ten (10) percent of the EDI request is required. Local match may be cash, in-kind contribution or other appropriate revenue source.
In selecting proposals for EDI funding, Whatcom County will give preference to loan requests, or loan/grant combined requests, over grant-only requests. Additional criteria that will affect ranking include total family-wage job creation per EDI program dollar, business retention/job retention, redevelopment and/or utilization of existing infrastructure, and the immediacy of community benefit.
Public Facility projects may include planning, acquisition, construction, repair, reconstruction, replacement or rehabilitation or improvement to existing facilities. "Public Facilities" include:
- Water Facilities
- Sanitary Sewer Facilities
- Storm Sewer Facilities
- Natural Gas
- Commercial Infrastructure
- Buildings or Structures
- Port Facilities
- Transportation Infrastructure
- Telecommunication Infrastructure