Local Development Corp. to administer microenterprise grant
MALONE — Officials from the Franklin County Industrial Development Agency met with county legislators on Thursday to review the status of ongoing projects.
IDA CEO Jeremy Evans and Economic Development Director Russ Kinyon started off the meeting by outlining the priorities for the county’s $200,000 microenterprise grant.
The microenterprise grant, awarded through the North Country Regional Economic Development Council, can be used to provide smaller grants to businesses with five or fewer employees where the owner is one of the workers; either the owner or one of the workers benefiting from the grant must be from a “low-to-moderate income family.”
The IDA’s Local Development Corp. will administer the county’s microenterprise grant as part of the contract between the two entities for the IDA to provide economic development services for the county government. The county board later on Thursday passed a resolution to authorize the LDC to administer the grant program.
The contract also led to a partial restructuring of the Office of Economic Development, which led to Kinyon being formally placed under the IDA’s scope.
Evans and Kinyon also informed the county board that the Montreal-based firm CAI has completed its Franklin County study and is ready to schedule a final meeting. The review by the IDA, CAI and the county board is scheduled for March 7.