Tuesday, October 15, 2024 
Tuesday, October 15, 2024
Predevelopment funding supports promoting equitable strategies to strengthen the local economy.
MARINA, CA, UNITED STATES, October 2, 2024 /EINPresswire.com/ — Monterey Bay Economic Partnership (MBEP), a member of Uplift Central Coast Coalition alongside REACH and the Economic Development Cooperative, is pleased to release a Notice of Funding Opportunity (NOFO) for the Catalyst Predevelopment Phase of work.
Catalyst Predevelopment Phase Projects will fall into one of three stages: Concept (up to $50,000) Accelerator (up to $250,000), or Launchpad (up to $1,000,000). Final budget amounts are subject to change based on negotiations between Uplift and awardees.
The objective of Catalyst Predevelopment Funding is to support sector-specific, exploratory, predevelopment activities that align with regional strategies developed under the California Jobs First initiative. The funding aims to foster economic resilience, environmental sustainability, and equitable growth by investing in projects that:
● Advance priorities and promote the strategies identified in Uplift’s Regional Plan Part II. Projects that promote the target sector (Precision Manufacturing and Advanced Business Services) strategies will be prioritized for funding.
● Ensure that workers and disinvested communities are the primary beneficiaries.
● Fund predevelopment activities that will support projects that create quality jobs that enhance equity and sustainability within the Central Coast. Uplift defines a quality job as a job that (1) pays an annualized living wage that allows families to make ends meet while accumulating long-term and emergency savings; (2) offers employer-sponsored health insurance (a proxy for other worker benefits); and (3) provides worker stability in terms of retaining or leading to another quality job in the future.
● Will be able to leverage federal, state, and private dollars to maximize impact.
To be considered for a Catalyst Predevelopment Grant, entities must first submit a Letter of Intent (LOI) by 5 p.m. PDT Friday, Oct. 18. Only organizations with projects closely aligned with Uplift priorities will be invited to submit a full application. Applicants are encouraged to attend a Bidders Forum for prospective applicants from 11 a.m. to 12:30 p.m. on Oct. 11. Register here. Questions may be submitted in advance of the meeting.
For more information on Uplift, California Jobs First, and the Catalyst Predevelopment Phase, please see the Preliminary Catalyst Predevelopment Phase Timeline and Criteria document at https://mbep.biz/uplift-central-coast.
About Uplift Central Coast Coalition: A six-county partnership convened by three economic development agencies — the Economic Development Collaborative, Monterey Bay Economic Partnership, and REACH — with the shared goal of creating an equitable economic resilience plan through creative and sustainable community-led efforts for residents throughout Santa Cruz, San Benito, Monterey, San Luis Obispo, Santa Barbara, and Ventura counties.
About Monterey Bay Economic Partnership (MBEP): Monterey Bay Economic Partnership (MBEP) is a regional member-supported nonprofit organization consisting of public, private, and civic entities located throughout the counties of Monterey, San Benito, and Santa Cruz. Founded in 2015, our mission is to improve the economic health and quality of life in the region.
Marie Vasari Hislop
Monterey Bay Economic Partnership
+1 831-224-2132
email us here
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