Funds available for projects benefiting Essex

Town seeks applications for EBPA Economic Development Fund

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The Town of Essex has $14,000 available to support economic development in the community, and is seeking applications from businesses, individuals or organizations that could use the money to provide reasonable opportunities for future investment and job growth.

The $14,000 comes from the now inactive Essex Business and Professional Association. EBPA Trustees John Workman and Ann Gray decided the association’s remaining funds could best be deployed by the Town of Essex through its Economic Development Commission (EDC). The Essex Selectboard created the EBPA Economic Development Fund to accept the $14,000 and adopted guidelines to govern use of the money. Now, the Essex Economic Development Commission wants to disburse the money into the community.

“The EDC is looking for proposals that have the potential to lead to significant increases in economic vitality of the Essex community within the approved Fund guidelines,” said EDC Chairman Greg Morgan. To find a list of the guidelines visit www.essexreporter.com or www.essex.org.

Applications are due by March 15, and can be submitted to the Essex Economic Development Commission, c/o Greg Morgan, 81 Main St., Essex Jct., VT 05452. Applications can also be emailed to Greg Morgan at gsmorgan@yahoo.com.

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Applications must contain no more than 3 pages, and must provide the following information:

  • How will the money be used to promote economic development goals in Essex, as described by the Economic Development Commission and in the 2011 Town Plan? (EDC goals are found online at essex.org, under the Commission’s webpage section devoted to EDC Publications and Resources; the Town Plan is also available online at www.essex.org, or in the Community Development Office at 81 Main St.)
  • How will the money be used to support individuals or organizations that present reasonable opportunities for investment and job growth, and create a return of investment of the funds?
  • Will the money be used to support any of the following types of initiatives?
    • Regional or statewide initiatives with direct impact on Essex businesses that are in harmony with the Town’s economic development goals as described in the Town Plan;
    • Essex-based projects that promote the development of areas or regions of Essex. Where feasible, the fund should be used to leverage investment and create jobs by growing manufacturing, advanced manufacturing, creative economy, and renewable energy businesses;
    • Assisting businesses that qualify for the “Partnership Fund,” a multi-municipality small business start-up and expansion loan fund administered by Community Capital of VT;
    • Sponsoring or supporting events or activities that promote economic development in Essex.
  • Include a budget that describes finances for the proposed project and how EBPA funds will be used as a part of that budget.
  • Describe the projected economic activity that the project will generate, such as the number of jobs or businesses that will be created, and other benefits to the local economy.

The Economic Development Commission will review the applications and make recommendations to the Town Manager. Final project decisions will be made the Town Manager in the spring of 2015. Project decisions may be appealed to the Essex Selectboard.

For more information, potential applicants can contact the following individuals:

Guidelines for the use of funds donated to the Town of Essex by

the Essex Business and Professionals Association (EBPA)

(As adopted by the Essex Town Selectboard)

  1. The fund will be called the “EBPA Economic Development Fund for Essex.”
  2. The fund will be used to promote the general goals of the Town of Essex for economic development as developed by the Economic Development Commission (EDC) and included in the Town Plan.
  3. The fund will be used to support individuals and organizations that present reasonable opportunities for investment and job growth and maximize the return on investment of this limited pool of funds.
  4. The fund may be used to support projects created or supported by the EDC.
  5. The fund may not be used to supplant funds included in Town budget.
  6. The fund may be used to support, but is not limited to, the following types of initiatives:
  7. Regional or statewide initiatives with direct impact on Essex businesses that are in harmony with the Town’s economic development goals as supported by Town Plan;
  8. Local (Essex) projects that promote the development of areas/regions of Essex. Where feasible, the fund should be used to leverage investment and to create jobs by growing manufacturing, advanced manufacturing, creative economy, and renewable energy businesses.
  9. Assist businesses that qualify for the “Partnership Fund,” a multi-municipality small business start-up and expansion loan fund administered by Community Capital of VT;
  10. Sponsor or support events and activities that promote economic development in Essex.

Project Review Process:

  1. The EDC will review potential projects and make recommendations to the Town Manager.
  2. Final project decisions will be made by the Town Manager.
  3. Project decisions may be appealed to the Essex Selectboard.