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IDA amends microenterprise grant guidelines; board OKs increased awards for prior recipients
Summary
HCR revised microenterprise program rules to allow up to $35,000 per new full‑time position (up from $14,000 per business); the board approved increases for prior recipients subject to HCR guidance and staff verification.
Herkimer County IDA staff reported that Homes and Community Renewal (HCR) approved revised microenterprise grant guidance allowing awards up to $35,000 per full‑time employee (previously $14,000 per small business for low/moderate‑income owners). Staff said the revision expands eligibility and gives prior awardees the opportunity to request supplemental funds.
Staff recapped the microenterprise fund balance: a total grant pool of $255,000, $150,000 committed to date and $105,000 remaining. Staff said if prior recipients accept an additional $21,000 award each, that would exhaust the remaining balance and that they are actively contacting prior awardees to evaluate need.
The board discussed specific award follow‑ups. Staff said one prior recipient, identified as Susie Q, had already spent $40,269 on equipment and could receive an increase without submitting additional expenditures. Another case involved a farmer who purchased a $38,000 tractor and had previously been awarded $14,000; staff said the farmer is making payments and is preparing documentation for an increased drawdown.
After discussion, the board approved motions to allow awards in keeping with the revised HCR guidance and to proceed with staff verification for requested increases. Staff said they will confirm details with HCR staff and Lindsay before final disbursement.
