Search the Web


Thursday, December 17, 2009

Where is the money? Educational, Small Business, Green, and NSP Grants Top the Charts.

Grant and scolarship money related to education, green technology and neighborhood stabilization are topping the charts these days.  Anyone that is not involved in what is going on in those industries may need to at the very least address the directions of the wind of change in these areas.

Educational grants, scholarships and financial aid will either be based on merit or need.  The federal government is covering about 30 percent of the monies and states are picking up about 15 percent of the tab.  Institutions will cover the rest, which will mean that the schools that students are enrolled in will figure prominently in the aid to cover college expenses.  Financial aid based on need is income based and basically on a first come first serve basis.

Green technology funds will be provided to homeowners that invest in making their homes energy efficient.  Some states will provide stimulus money directed toward weatherization via their department of community affairs.  Funds will be directed to counties, cities or non profit organizations with weatherization certifications.  The idea adopts the trickle down theory with a direct reward to contractors that meet criterial for weatherization.  Weatherization should lower the heating bill for the elderly and stimulate the economy by awarding contracts to companies with certifications that can hire local labor to assist in accomplishing this goal.  As much as $8M was awarded to a company Action, Inc. within the past 30 days.  I know of one organization in the state of Georgia that has been awarded at least $4.2M in weatherization contracts.  This is real and many counties have there money in place and they are ready to spend, but local contractors may not have the certification for them to begin. 

The Obama's stimulus plan has small business in mind by directing stimulus funds to the SBA so that small businesses can acquire loans of up to $35K to pay past due bills.  Documentation and financial packages will be required.  Additionally, awards of federal contracts and funds are available for disabled service veteran owned companies.  The loans require 10% reserves without source or seasoning.

NSP (Neighborhood Stabilization Program) money is available in most cities.  Joint venture agreements have been signed with some cities, but a lot of this money is being held by the some cities and conditions for acquiring these grants are unstable because of continual changes in the financial climate and politics.  Agreements and allocations seem to be directed toward non profits (CHDO's, Faith Based Organizations) and Contractors that have the financial fitness to acquire land and develop housing.  In some cases the city actually has the end buyers approved and ready for acquisition, but government has not learned to work as expeditiously as the situation for funds disbursement requires.  Some businesses have been awarded NSP money only to have the grant retracted because of daily changes to criteria after the award.

No comments:

Post a Comment