To: Board of Supervisors
From: John Kopchik, Director, Conservation and Development
Report Title: Grant funding of up to $1,200,000 from the U.S. Economic Development Administration (EDA) for a pre-development strategy for a Next-Generation Battery Manufacturing Tech Innovation Hub along the Northern Waterfront
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
APPROVE and AUTHORIZE the Director, Department of Conservation and Development, or designee, to apply for and accept grant funding of up to $1,200,000 from the U.S. Economic Development Administration (EDA) for a pre-development strategy for a Next-Generation Battery Manufacturing Tech Innovation Hub Along the Northern Waterfront, as recommended by the Ad-Hoc Committee on the Northern Waterfront Economic Development Initiative.
FISCAL IMPACT:
If awarded, the U.S. Economic Development Administration (EDA) grant will contribute $1.2 M towards a project with a total cost in the range of $1.5 M to $2.4 M, as determined by the County in its application. Therefore, the County's required match will be in the range of $300,000 to $1.2 M, depending on the final budget amount in the County's application. Qualifying matching funds include expenditures from non-federal funding sources related to economic development activities that support the development of the clean energy sector of the local economy in Contra Costa County. The matching requirement for this grant application will be satisfied by expenditures anticipated from the County's Green Empowerment Zone, funded from State revenues, of which $2 M in expenditures are expected over the next three years that meet the match requirements.
BACKGROUND:
On June 5, 2024, the Ad-Hoc Committee on the Northern Waterfront Economic Development Initiative recommended that the Board of Supervisors authorize staff to submit an application for U.S. Economic Development (EDA) funding for a pre-development strategy for a Next-G...
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