Strategic Investment Program

Funding Amount:

• Funding will be determined on a per-need basis, with the full board making decisions based on community impact and the need justification provided by the applicant.
• Funding may take the form of loans, financial support, or other appropriate mechanisms based on the project’s scope and requirements.

Eligible Projects:

• Projects that improve community life, health, or safety.
• Business ventures that address key industry gaps, such as healthcare, workforce development, infrastructure improvements, and more.
• Businesses that provide critical services not currently offered in Dunn County.
• Applicants must provide a clear need justification outlining how the proposed project benefits the community.
• Projects outside the scope of other programs are eligible for consideration under this program.
• Project loans will be subject to terms and conditions of other loan programs, including credit, financial statements, etc.

Eligibility:

     Eligible Applicants:

• Businesses
• Organizations

     Ineligible Applicants:

• Projects that do not significantly impact community life, health, or safety.
• Applicants who do not meet the need justification criteria.

 

Need Justification Criteria:

     Community Impact:

• Describe the Problem: Applicants must clearly describe the current problem or gap in the community. This should highlight how the proposed project's absence negatively affects the community's life, health, or safety.
• Significance of the Need: Demonstrate how the project addresses a critical, unmet need in Dunn County, which may include:

o   Essential services not currently offered (e.g., healthcare, childcare, emergency services).

o   Critical infrastructure gaps (e.g., water, power, transportation).

o   Addressing workforce shortages in key industries.

Project Benefits:

• Immediate and Long-Term Impact: Applicants should outline both immediate and long-term benefits of the project, specifically focusing on how the project will:

o   Improve the quality of life in Dunn County (e.g., public health initiatives, educational programs, etc.).

o   Enhance community safety (e.g., fire stations, healthcare facilities).

o   Stimulate economic development (e.g., attracting new businesses, job creation).

• Community Reach: How many individuals or businesses will benefit from the project?

 

     Industry Gaps:

• Key Industry Support: Demonstrate how the project fills critical industry gaps, such as those in healthcare, workforce development, education, infrastructure, or retail.
• Complementary Role: Explain how the project complements existing businesses and services, avoiding duplication and contributing to the overall economic or community growth.

 

     Economic and Social Impact:

• Job Creation and Retention: Show how the project will contribute to job creation or the retention of existing jobs. Explain the number of jobs created and the industries affected.
• Local Economy Stimulation: Demonstrate how the project will increase economic activity within Dunn County, including increased sales, property taxes, or wages.
• Cost Efficiency: Explain how the proposed project offers value for the investment by being cost-effective and maximizing community benefits.

 

    Sustainability and Longevity:

• Long-Term Viability: Provide evidence of the project’s sustainability, showing how it will continue to benefit the community beyond the initial funding period. Explain any long-term plans or operational structures that will ensure the project’s success.
• Avoiding Market Saturation: Show how the project will not oversaturate existing markets or industries and how it will meet community demands without displacing current businesses.

 

     Alignment with Community Priorities:

• Fit with Local Priorities: Applicants must explain how their project aligns with Dunn County's strategic priorities, such as improving community well-being, supporting local businesses, and addressing public health or safety concerns.
• Support from Local Stakeholders: Applicants may need to provide letters of support from key community leaders, organizations, or businesses that agree with the project’s impact and significance.

 

     Risk and Feasibility:

• Feasibility of Execution: Demonstrate that the project is feasible with a clear timeline, detailed cost estimates, and a plan to manage potential risks or challenges.
• Financial Stability: Provide evidence that the applicant has the financial capacity to support the project alongside SIP funding, ensuring that the project will not fail due to lack of resources.

 

     Monitoring and Evaluation:

• Outcome Metrics: Define the project's expected outcomes, including how success will be measured. This could include metrics like the number of jobs created, the amount of community engagement, or improvements to community health or safety.
• Ongoing Reporting: Applicants should explain how they will provide regular updates and reports on the project’s progress to the Dunn County JDA to ensure compliance with program goals and terms.

 

Application Process:

• Complete the Strategic Investments Program Application including:

o   Why the project is necessary.

o   How will it address a critical gap in the community?

o   Project Overview.

o   Expected impact on the community.

o   Cost estimates and potential funding needs.

o   Timeline for completion.

• The Dunn County JDA Board will review applications.
• The board may apply repayment schedules, depreciation schedules, contract buyouts, and claw back agreements to ensure the sustainability and accountability of funded projects.
• Funding decisions will be based on the strategic importance of the project to the community.

 

Funding and Reimbursement:

• Approved projects will receive funding through a mechanism the board determines, such as a loan, financial support, or other arrangements.
• Funding will be disbursed through a reimbursement process upon submission of paid receipts and project completion documentation.

 

Project Timeline:

• All projects must be completed within the agreed-upon timeline, which will be specified in the approval process.
• Ongoing monitoring and reporting may be required to ensure compliance with the program’s terms.

 

Claw back and Contractual Terms:

• Claw back agreements may be applied in cases where the project does not meet its intended outcomes or if contract terms are violated.
• The board may impose contractual buyout options to ensure flexibility in funding and long-term sustainability.

 

Terms and Conditions:

• Businesses or organizations may apply once per calendar year for Strategic Investment Program funding.
• Any exceptions to the program guidelines must be requested in writing at the time of application and will be reviewed by the board.
• Applicants will be required to sign a Business Incentive Agreement, and Memorandum of Understanding guaranteeing the funds will be used according to the details included on the application.
• Dunn County JDA reserves the right to cancel the program in the event of failure to comply with this agreement.
• Application to the program does not guarantee funding.
• Dunn County JDA will have the authority to approve, disapprove, or make changes as necessary.
• Dunn County JDA reserves the right to request additional information as needed.
• Please consult your accountant on proper tax handling. 

APPLICATIONS