CTC Technology & Energy report…
The recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act added $1.5 billion to an existing grant program of the US Department of Commerce’s Economic Development Administration’s (EDA).
This is a significant opportunity, both because of the size of the allocation and its breadth of eligibility. The grants are available to local and state governments, non-profits, and other non-commercial entities that have a compelling case for using infrastructure projects (including broadband initiatives) to ameliorate the economic effects of the coronavirus crisis.
This is also an opportunity that demands quick action. EDA will receive applications and make awards on a rolling basis, so applicants with projects in advanced planning stages (and even those with a strong concept and an ability to quickly develop a project plan) should move rapidly to submit their applications.
Broadband Projects That Will Help Address Coronavirus Challenges Are Eligible
The EDA’s significant funding allocation—announced in an addendum to EDA’s notice of funding opportunity (NOFO) on May 7th—can be used for broadband projects (in addition to other types of projects) that will strengthen economic resilience, diversify the economy and workforce, or support recovery in the face of the coronavirus pandemic. (Examples of successful past projects can be found on EDA’s website—though we anticipate the new funding to be awarded to a broader range of broadband projects.)
