WNDD Economic Recovery Update – May 2021

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The May 2021 edition of the Western Nevada Development District’s Economic Recovery & Resiliency Update features a variety of information you can use.

Here are key takeaways:

1. The WNDD’s Economic Recovery and Resiliency Council, with its associated team members, supported by WNDD staff, identified four broad target areas needing focus and attention to recover from COVID-19 and become more resilient to future economic shocks.

2. Nevada is beginning to recover from the impacts of the COVID-19 pandemic. The booming housing market, the return of notable events in Reno, the Washoe County gaming win, projected statewide revenue projections, and increased traffic at the Reno Tahoe International Airport are a few metrics we analyzed across the state.

3. The WNDD Board of Directors will review an update to the Comprehensive Economic Development Strategy and rankings of more than 30 projects related to the strategy at its June 28 meeting.

4.  In May, the Department of Treasury announced its Coronavirus State and Local Fiscal Recovery Funds guidelines. The stimulus money marks one of the most significant infusions of federal dollars into the state in history.

This monthly newsletter is part of WNDD’s effort to identify and develop strategies to create and build a more resilient economy in our region, plus the latest in available grant opportunities.

To read the full report.

Five for Friday Grant Opportunities – May 14, 2021

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Collected by the Western Nevada Development District

Economic development grants and loans can help revitalize and build sustainability in urban, rural, and tribal communities. Strategic investments help support local economies, create jobs, and attract private investments to better residents’ lives. Every other Friday, the Western Nevada Development District will share our Five for Friday; grant programs from a variety of sources that can help communities support local business, increase connectivity or provide affordable housing.

The Housing Assistance Council has flexible loan capital available to support preservation of USDA Section 515 properties, HUD-subsidized properties, and naturally occurring affordable housing in rural places. Eligible properties are existing affordable or mixed-income rental housing (with or without current income restrictions). Loans can be $50,000-$1.5 million, interest rates can be as low as 4.5%, and terms can be up to 180 months, with longer amortization periods based on project needs. Eligible borrowers include nonprofit organizations, for-profit developers, housing authorities, and tribal entities. For more information, see HAC’s website.

The Union Pacific Railroad’s Community Ties Giving Program provides Local Grants to nonprofit organizations that address the following categories: Safety, Workforce Development, and Community Spaces. Grants generally range from $2,500 to $25,000. Organizations interested in receiving a grant must complete an online survey to determine eligibility from June 1 through July 31, 2021, which is also the last day that eligible organizations may submit an online application. Visit  the Union Pacific Foundation website  for detailed information about the funding priorities and application process.

The Bank of America Charitable Foundation strives to develop strong partnerships with non-profit organizations addressing issues fundamental to economic mobility and social progress in low- and moderate-income communities. Current investment priorities are supporting economic mobility in the areas of affordable housing, small business development assisting indigenous or and minority entrepreneurs and neighborhood revitalization. Grant applications are being accepted May 31 through June 25, 2021. More information can be found at: Bank of America Charitable Foundation Philanthropic Strategy.

The FCC Rural Healthcare Program provides funding to eligible healthcare providers in rural areas for telecommunications and broadband services necessary for the provision of healthcare. It offers a discount on telecommunication expenses and network equipment for healthcare facilities to increase connectivity and access to broadband in rural areas to provide and improve healthcare. The application deadline is June 1, 2021. Funding Details: The Rural Health Care Program – Rural Community Toolbox.

USDA Distance Learning and Telemedicine (DLT) Program grants help fund distance learning and telemedicine services in rural areas to increase access to education, training and health care resources that are otherwise limited or unavailable. USDA plans to make $44.5 million available in fiscal year 2021. Of this amount, $10.2 million is intended for projects that provide substance use disorder treatment services in rural areas. Eligible applicants include most state and local governmental entities, federally recognized tribes, nonprofits, and for-profit businesses. Applications must be submitted electronically through grants.gov no later than June 4, 2021. More information:  Distance Learning & Telemedicine Grants | Rural Development (usda.gov)  Or the local contact: Jim Park can be reached at: James.Park@USDA.gov