Infrastructure Development Program
Grant and low-interest loan financing for public and private infrastructure improvements
Guidelines
Uses
Transportation facilities, airports; Clearing and preparation of land and environmental remediation; Water and sewer systems, storm sewers; Energy facilities; Parking facilities; Bridges, waterways; Rail and Port facilities; At former industrial sites only: land and building acquisition, construction and renovation by private developers; Telecommunications infrastructure
Funding
Loans and grants up to $1.25 million; No more than 20% of the annual appropriation for a single municipality; No more than 10% of the annual appropriation will be loans or granted to applicant for speculative Greenfield projects not involving private companies
Eligibility
Municipalities, industrial development authorities and corporations, municipal authorities, redevelopment authorities and local development districts may apply for IDP assistance for themselves or on behalf of eligible private companies engaged in: agriculture, industrial, manufacturing, research and development, and export services; Real estate developers who are developing sites for eligible private companies
Terms
Grants for public infrastructure; Loans to private businesses at 3% interest rate; Up to 15-year term; 2:1 private to public match required; $25,000 cost per job to be created within five years or 10 new full-time equivalent jobs (whichever is greater)
Where to Apply
Industrial Development Corporation and Authorities; Municipalities; Municipal authorities; Redevelopment authorities; Local development districts