"Match on Main" Grant Opportunity from the MEDC

The Village of Lake Odessa’s Downtown Development Authority (DDA) has been notified by the Michigan Economic Development Corporation (MEDC) that, in response to the COVID-19 pandemic and the Governor’s Executive Orders, the MEDC is accepting applications from communities for business assistance grants for small businesses in traditional downtown districts. The DDA may apply for up to $50,000 to administer to small businesses located within the district. The maximum contribution to any one business is capped at $10,000, the minimum amount must be at least $2,000. This means that a minimum of 5 businesses or a maximum of 25 businesses must be selected for potential funding.
 
If granted, the awarded funds may be used by businesses for “working capital to support payroll expenses, rent, mortgage payments, utility expenses, COVID-19 relief or recovery expenses or other similar expenses that occur in the ordinary course of business.”
 
The DDA will be submitting an overall grant application to the MEDC by Friday, May 29, 2020 and would like to include interested and eligible businesses within the DDA district. If your business is interested in potentially taking part in this opportunity, please complete the enclosed worksheet and submit back to the DDA by Thursday, May 28, 2020. Please note that the DDA will need to have physical possession of your completed application/ worksheet by 5:00 pm on May 28, 2020. Late or incomplete applications will not be considered.
 
Please note that businesses must meet eligibility requirements as set forth by the MEDC. These are the following:
 
•  The business is located within the boundaries of the community the applicant serves
•  The business is located within a traditional downtown, historic neighborhood commercial district, or area planned and zoned for concentrated commercial development
•  The business sells products and/or services face to face AND has a physical location within a traditional downtown, historic neighborhood commercial district, or area       planned and zoned for concentrated commercial development (Ex. The business has a storefront location in downtown) • The business is operating as a for-profit business
•  The business has 25 employees or less
•  The business is headquartered in Michigan
•  The business demonstrates it has been affected by the COVID-19 outbreak
 
Furthermore, nonprofits, franchises, business located in strip malls, big box retailers, and marijuana related businesses are deemed ineligible for participation by the MEDC. Also, any business that has either received, or been approved to receive, support from the Michigan Strategic Fund’s “Small Business Relief Program” (Grant or Loan) as administered in conjunction with regional economic development organizations or an MEDC “Match on Main Grant” within the last 24 months are not eligible for this grant opportunity.
 
All applications/ worksheets received by the DDA by Thursday, May 28, 2020 at 5:00 pm will be reviewed by representatives from the DDA. The DDA Board will make the final decision as to which businesses will be included into the grant application to be submitted to the MEDC.
 
Should you have any questions, please contact the Village Manager. For detailed information on this opportunity, please visit the DDA’s webpage at: http://www.lakeodessa.org/downtown-development-authority.html.
 
Again, completed worksheets (included in this mailing) are due back to the DDA by Thursday, May 28, 2020 by 5:00 pm. Completed worksheets can be emailed back to the village manager, can be mailed back to: 839 Fourth Avenue, Lake Odessa, Michigan 48849, or can be brought to the Page Building – please call the Manager and he or a representative would be happy to meet you there between 9:00 am and 4:00 pm, Monday through Friday.

Please find below a PDF program guide, outlining this grant; a copy of the business worksheet to be completed and submitted back to the DDA by businesses; and a map of the DDA district. Please note that we have sent a hard copy packet to all DDA District business owners and we also emailed a copy of this packet to owners for whom we had email addresses.