This EDA investment supports the montbello organizing committee with conducting a feasibility study to determine the viability of a business incubator in the greater montbello area

Ended Project Grant Awarded Last action

Award ID
057906186
Recipient
Awarding agency
Obligated
$143,750

Award facts

Assistance listing
11.307 Economic Adjustment Assistance
Completion date
Funding
  • $100,000.00 Federal
  • $43,750.00 Non-federal
Place of performance
Denver, CO 80239, USA

Award details come from USAspending.gov.

About this award

Written by GovTribe AI ·

This $143,750 project grant from the Department of Commerce Economic Development Administration's Economic Adjustment Assistance program will support Montbello Organizing Committee in conducting a feasibility study for a business incubator in the greater Montbello area of Denver, Colorado. The study will determine the viability of an incubator as part of Montbello Organizing Committee's "Building Wealth from Within" initiative, which aims to provide employment and small business ownership opportunities for local residents through partnership and help protect against displacement. Once completed, the project's results will strengthen and diversify the regional economy in response to challenges illustrated by the COVID-19 pandemic. The grant period runs from September 6, 2022 through March 6, 2024.

Description

As the agency reported it.

This incubator would serve as the cornerstone of montbello organizing committees's building wealth from within initiative, which aims to work with residents to develop an economic system in montbello that provides employment and ownership opportunities for residents, protects against displacement and gentrification, and helps residents begin building generational wealth. Once completed, the project will help the region respond to the needs illustrated by the covid pandemic, which will help strengthen and diversify the regional economy.

Quick answers

Who received award 057906186?

057906186 was awarded to Montbello Organizing Committee by Economic Development Administration (Department of Commerce) on September 6, 2022.

How much is award 057906186 worth?

$143,750 has been obligated on 057906186: $100,000 in federal funding and $43,750 in non-federal funding.

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