Fairfield to hold public hearing on micro-enterprise grant as CDBG funding outlook holds steady

The Economic Development Commission on May 1 announced a May 7 public hearing on a draft update to the town’s consolidated plan and said it plans to hold a $20,000 placeholder for a Community Development Block Grant (CDBG) micro-enterprise program.

The program would provide income-qualified entrepreneurs or businesses that employ low- to moderate-income persons matching federal funds up to $5,000 for tenant fit-up and other capital costs. “We’re planning to allocate similar to what we did last year $20,000 for the micro enterprise program,” the commission’s presenter said, adding the town will accept re-applications and may allocate additional dollars later if some projects fall through.

The commission’s presenter said the town is using the current year’s federal allocation as a planning baseline. “We’ve received about $480,000 from the federal government, at least in the current year,” the presenter said, adding there has been a modest downward trend in recent years but no indication the program will be eliminated. The presenter also noted uncertainty in Washington about HUD restructuring and staffing but said there had been no program-level notice to the town affecting CDBG.

Commissioners discussed outreach and marketing challenges. The presenter and Chamber of Commerce contact said many eligible businesses and entrepreneurs are unaware of the program. The commission said it coordinates outreach with the Chamber, the Connecticut Small Business Development Center and the U.S. Small Business Administration.

The commission said the draft consolidated plan update and related public outreach will proceed, with town boards scheduled to take final action in June.