BIA announces NABDI grants opportunity
WASHINGTON – Tara Mac Lean Sweeney, assistant secretary of Indian Affairs, on June 23 announced that the Office of Indian Energy and Economic Development is soliciting applications for its Native American Business Development Institute grant program.
According to an Indian Affairs release, the program seeks to fund some 20-25 grants, ranging in value from approximately $25,000 to $75,000, to enable federally recognized American Indian and Alaska Native tribes and entities to undertake feasibility studies of proposed economic development projects, businesses and technologies located in designated Opportunity Zones.
It also states the grants are intended to fund applicants to obtain qualified guidance on how the development projects, businesses or technologies they propose can attract investments from an Opportunity Fund.
“Historically, NABDI studies have placed tribal economic development opportunities at the doorstep of investors, lenders and other government granting agencies,” Sweeney said. “This year, these grants will leverage the possibilities and advantages of investments in Opportunity Zones. We look forward to all the dynamic and creative submissions.”
According to the Tax Cuts and Jobs Act of 2017, an Opportunity Zone is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Opportunity Funds are set up either as a partnership or corporation for investing in eligible property or businesses located in an Opportunity Zone. A map and list of Opportunity Zones are at https://www.cdfifund.gov/Pages/Opportunity-Zones.aspx
IEED’s solicitation for NABDI funding and details on how to apply can be found in the Federal Register and at https://www.grants.gov/
NABDI is a competitive, discretionary program. To qualify for funding, applicants must submit a proposal and a supporting tribal resolution to IEED no later than Sept. 28 using the standard application for federal assistance SF-424 and the Project Narrative Attachment Form, both of which can be found at https://www.grants.gov/
Proposals will be evaluated on their potential to create jobs and stimulate economic activity within a Native community, the applicant’s willingness to consider implementing recommendations resulting from the feasibility study, and the applicant’s focus on obtaining qualified guidance on how to attract investment from an Opportunity Fund.
Questions about NABDI may be addressed to James R. West, Native American Business Development Institute Manager, Office of Indian Energy and Economic Development, Room 6049-B, 12220 Sunrise Valley Drive, Reston, Virginia 20191; or by calling 202-595-4766; or emailing email@example.com
For information about IEED’s programs, visit https://www.indianaffairs.gov/as-ia/ieed