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Legislative panel clears $15 million transfer for AEDC community assistance grants; applications open through July 31
Summary
The committee approved a $15 million transfer from a restricted reserve fund to the Arkansas Economic Development Commission for a community assistance grants program; AEDC says applications will be accepted through July 31 and the agency will publicize the opportunity via email and the rural development conference.
A legislative appropriations review subcommittee approved a $15 million restricted reserve fund transfer to the Arkansas Economic Development Commission (AEDC) to support the Community Assistance Grant Program, a competitive grant pool for community and economic development projects and qualifying nonprofit initiatives.
Clint O'Neil, executive director of AEDC, and Jennifer Emerson, deputy director, told the committee the application cycle runs from the day of the meeting through July 31. O'Neil said AEDC will use an internal review committee to vet applications and that awarded grants must follow the review and approval process before coming back to the review subcommittee and the full appropriations committee as required. The committee was told the Community Assistance Grant Program was established in the prior session under Act 608 and that the $15 million transfer comes from a general discretionary majority‑vote set‑aside account within the fund.
Senator Hickey asked whether specific projects had already been identified; AEDC representatives said projects have not been chosen and the application window is open. Representative Love requested a geographic “heat map” after awards are made so members can evaluate distribution across the state; O'Neil said AEDC can provide that data using city/county award locations and, where applicable, nonprofit service areas.
AEDC said it will notify potential applicants through an email blast to several hundred local economic developers and elected officials, update a landing page with FAQs and the application, and promote the opportunity at the annual Arkansas Rural Development Conference beginning the following day. The committee approved the transfer by voice vote.
