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WFEDD financial update: $420,000 planning grant on track as staff outline EDA coordination
Summary
WFRC finance staff reported the Wasatch Front Economic Development District is operating on a three‑year EDA planning grant totaling $420,000 and expects to spend the award as planned; staff described regular EDA reporting and reimbursement procedures.
The Wasatch Front Economic Development District (WFEDD) is operating on a three‑year planning grant it received from the U.S. Economic Development Administration, finance staff reported at the Sept. 11 strategy committee meeting.
"We are currently operating on a 3 year planning grant that started on 04/01/2023. The total funds for that grant are $420,000, which are split evenly between federal funds and local match funds," said Marion Florence, chief financial officer at the Wasatch Front Regional Council, which houses the WFEDD finances.
Florence told committee members the grant cycle is nearing completion and the district is on track to spend the funds as planned. She said the district’s expenses under the grant have been primarily staff time and consultant assistance used to prepare the comprehensive economic development strategy (CEDS).
"Marsha and I do meet monthly with the EDA to report on our progress," Florence added, describing the district’s routine finance and progress reporting and regular reimbursement requests.
Why it matters: EDA planning and implementation grants are a common route to fund regional economic-development work that supports local projects and potential investments. The WFEDD status update signals that the current planning cycle is concluding on schedule and that the district remains engaged with EDA reviewers.
Other financial and grant notes from the meeting
- EDA coordination: WFRC and WFEDD staff said they monitor EDA notices of funding opportunities and can assist local governments within the economic development district to apply for EDA planning and construction grants when eligibility matches local projects. Staff clarified the district’s EDA access derives from its designation as an Economic Development District (EDD), not from AOG status.
- Implementation funding: committee presentations noted roughly $1.8 million in TLC funding already awarded to communities (for small-area planning and implementation) and about $810,000 available for station-area work; WFEDD staff and WFRC staff described those allocations as separate implementation resources that local governments can use to move from planning to projects.
Questions and follow-up: committee members were encouraged to contact WFRC and WFEDD staff about potential EDA grant opportunities and other program funding. "If you have an idea or some area that you think you could choose money, call Meg, call the staff, and they could point you in the right direction," the committee chair said during the meeting.
Ending
WFRC finance staff said they will continue monthly reporting to the EDA and invited jurisdictions with project ideas that match EDA eligibility (for example, job-creation or planning projects) to reach out for application assistance.
