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Vergas EDA Business Grant

Vergas EDA 2020 Business Grant

                                                    Grant Application click here

Objective

     Vergas EDA to allocate up to $10,000 to be allocated between up to 3 projects

Purpose

    To expand an existing business or to benefit a new business opening in Vergas

Rules/Regulations:

    This is a matching 50/50 grant that will match dollar for dollar investment

    Available in the city limits of Vergas

    All receipts for the project must be provided to the Clerk to be paid to the business

        -optional "lein situation" good standing for 5 years... etc

        Pro rate a return to the EDA if business is closed within agreed upon timing

Qualifiers

    Creating a job/jobs

    expand a current business to provide more services/products that Vergas does not currently have.

    Increase the value of current business exponentially

    To be able to provide a more profitable business

    To develop a new Business in Vergas that will benefit people in the area 

    To promote tourism in town by providing a business product/service and brings people here. 

    Building expansion

    New building

Timing:

    Applications to be accepted until April 1st, 2020

    Any application received the EDA will decide to split/accept/deny in April meeting

    If no applications are turned in by April 1st EDA can decide to renew process or modify 

        Applications that are approved will be presented at the April annual meeting

Application process

    To be turned into city office by April 1st with city receipt of acceptance

    Application to be handled by City Clerk-Treasurer

    Application is to be a standard application (provided by WCI I am assuming)

    With the application a narrative of how the money will help and projections of to how the money will benefit the business 

    Vergas EDA/HRA has the right to approve or deny any application