Community Development Block Grant (CDBG) Economic Development Assistance
The City's Community Development Authority (CDA) operates an economic development revolving loan fund with Federal Community Development Block Grant (CDBG) funding to facilitate blight elimination and/or the generation of new employment within the community. CDBG Revolving Loan funds can be used by property or business owners in Wauwatosa for property acquisition, code compliance updates, building improvements/expansions, and limited equipment purchases. CDBG is a great program for many businesses; however, there are several important requirements of the CDBG program that should be considered before determining if CDBG is appropriate for your project:
- All contractors employed on a CDBG funded project must be paid Federal Davis-Bacon Wages. These wages are often higher than what would normally be paid to contractors. Please contact the Economic Development Division for a current list of Davis-Bacon wage rates.
- The business or property owner must, at minimum, create one FTE job and at least 51% of new employment positions generated within the building or tenant space must be filled with or made available to Low-to-Moderate Individuals (LMI). An LMI individual is defined as a person with a household income that falls at or below a predetermined threshold.
- Funding is not retroactive - only work started after a complete application is submitted and approved is eligible for consideration
Please review the CDBG Economic Development Loan Program Summary and Application for additional information.
The CDA reviews and approves complete, eligible applications at their regularly scheduled meeting the first Monday of every month at 5 PM - Applications must be submitted one month in advance.
For more information, please contact the Economic Development Division at 414-479-3520.