560.135(2)(c)
(c) A city, village, town, county, community-based organization or local development corporation, to establish a local revolving loan fund to finance businesses that will create long-term employment opportunities.
560.135(2)(d)
(d) A community-based organization or local development corporation, to conduct a local economic development project that will create long-term employment opportunities and to provide assistance to businesses or entrepreneurs.
560.135(2)(e)
(e) A business, to obtain professional services related to the start-up, maintenance or expansion of the business, including assistance with feasibility studies or financial and marketing plans and managerial assistance after start-up or expansion.
560.135(3)
(3) The board may not award a grant or loan under
sub. (2) if the proceeds will be used to establish or expand a business that is solely dependent on mining activity.
560.135(5)
(5) In awarding grants and loans under
sub. (2), the board shall consider all of the following:
560.135(5)(b)
(b) Whether the project will be located in a targeted area, as determined by the board after considering the factors under
s. 560.605 (2m) (a) to
(h).
560.135(5)(c)
(c) The extent to which the business or other entity assisted by the project is likely to provide stable, long-term employment opportunities to reduce the dependence of the area on mining.
560.135(7)
(7) The department, with the approval of the board, shall promulgate rules establishing policies and standards for awarding grants and loans under
sub. (2), consistent with policies and standards established under the rules required under
s. 560.602. The department shall promulgate rules regarding the application processes for grants and loans under
sub. (2) and for loans made from revolving loan funds established with proceeds awarded under
sub. (2) (c).
560.135 History
History: 1997 a. 27.
560.137
560.137
Gaming economic development grants and loans. 560.137(1)(a)
(a) "Native American business" means a sole proprietorship, partnership, limited liability company, joint venture or corporation that is at least 51% owned, controlled and actively managed by a member or members of a federally recognized American Indian tribe or band in this state.
560.137(1)(c)
(c) "Qualified business" means an existing business, including a Native American business, that is located in this state.
560.137(2)(a)
(a) Make a grant that does not exceed $15,000 to a qualified business for professional services.
560.137(2)(b)
(b) Make a grant or loan that does not exceed $100,000 to a qualified business for fixed asset financing.
560.137(3)
(3) The department may not make a grant or loan to a qualified business under this section unless the department determines all of the following:
560.137(3)(a)
(a) That the qualified business has been negatively impacted by the existence of a casino.
560.137(3)(b)
(b) That the qualified business has a legitimate need for the grant or loan to improve the profitability of the business.
560.137(4)
(4) As a condition of approval of a grant or loan under this section, the department shall require that the qualified business provide matching funds for at least 25% of the cost of the project. The department may waive the requirement under this subsection if the department determines that the qualified business is subject to extreme financial hardship.
560.137(5)
(5) The department may not award a grant or loan under this section to a qualified business for any purpose that is related to tourism unless the department of tourism concurs in the award.
560.137(6)(a)(a) The department shall deposit into the appropriation account under
s. 20.143 (1) (ig) all moneys received in repayment of loans made under this section.
560.137(6)(b)
(b) The department may forgive all or any part of a loan made under this section.
560.137 History
History: 1999 a. 9.
560.138
560.138
Gaming economic diversification grants and loans. 560.138(1)(a)
(a) "Native American business" means a sole proprietorship, partnership, limited liability company, joint venture or corporation that is at least 51% owned, controlled and actively managed by a member or members of a federally recognized American Indian tribe or band in this state.
560.138(1)(b)
(b) "Qualified business" means an existing business, including a Native American business, that is located in or expanding into this state.
560.138(2)(a)(a) Subject to
subs. (3) and
(4), from the appropriations under
s. 20.143 (1) (id) and
(km), the department may make a grant or loan to a qualified business for a project for the purpose of diversifying the economy of a community.
560.138(2)(b)
(b) In determining whether to award a grant or loan under this section, the department shall consider all of the following:
560.138(2)(b)1.
1. A project's potential to retain or increase the number of jobs.
560.138(2)(b)2.
2. A project's potential to provide for significant capital investment.
560.138(2)(b)3.
3. A project's contribution to the economy of the community.
560.138(3)
(3) As a condition of approval of a grant or loan under this section, the department shall require that a qualified business provide matching funds for at least 25% of the cost of a project.
560.138(4)
(4) The department may not award a grant or loan under this section to a qualified business for any purpose that is related to tourism unless the department of tourism concurs in the award.
560.138(5)
(5) The department shall deposit into the appropriation account under
s. 20.143 (1) (id) all moneys received in repayment of loans made under this section.
560.138 History
History: 1999 a. 9.
560.139
560.139
Economic development grants. 560.139(1)
(1)
Remediation and economic redevelopment. 560.139(1)(a)(a) Subject to
par. (b), from the appropriation under
s. 20.143 (1) (kj) or
(km) or from both appropriations, the department shall make grants to the city of Milwaukee to fund a program to be administered by the Milwaukee Economic Development Corporation. Under the program, the Milwaukee Economic Development Corporation shall provide grants to persons for remediation and economic redevelopment projects in the Menomonee valley. A person may not receive a grant unless the person provides matching funds for at least 50% of the cost of the project.
560.139(1)(b)
(b) The department may not expend more than $900,000 in grants to the city of Milwaukee under this subsection.
560.139(2)(a)(a) From the appropriation under
s. 20.143 (1) (kj) or
(km) or from both appropriations, the department shall make grants to the Northwest Regional Planning Commission to match federal or private funds for the purpose of establishing a community-based venture fund. Subject to
par. (b), the department shall provide grants in an amount that equals 50% of the total amount that the Northwest Regional Planning Commission receives in the year from federal or private sources for the community-based venture fund.
560.139(2)(b)
(b) The department may not expend more than $150,000 in grants under this subsection.
560.139 History
History: 1999 a. 9.
560.14
560.14
Community-based economic development programs. 560.14(1)(a)
(a) "Applicable median household income" means the median family income for the county where the household is located, as determined annually by the U.S. department of housing and urban development.
560.14(1)(b)
(b) "Business incubator" means a person who operates an organization designed to encourage the growth of new businesses, if at least 2 of the following apply:
560.14(1)(b)1.
1. The organization rents space at a rate lower than the market rate in the community.
560.14(1)(b)3.
3. The organization makes available management and technical assistance.
560.14(1)(b)4.
4. Businesses using the organization may obtain financial capital through a direct relationship with at least one financial institution.
560.14(1)(c)
(c) "Community-based organization" means an organization that is involved in economic development and helps businesses that are likely to employ persons.
560.14(1)(f)
(f) "Political subdivision" means a county, city, village or town.
560.14(1)(fm)
(fm) "Small business" means a business that has fewer than 100 full-time employees.
560.14(1)(h)
(h) "Technology-based incubator" means a facility that provides a new or expanding technically oriented business with all of the following:
560.14(2)(a)(a) The department may make a grant to a community-based organization or a political subdivision from the appropriation under
s. 20.143 (1) (fg) to do any of the following:
560.14(2)(a)1.
1. Enable a community-based organization or a political subdivision receiving a grant to develop a plan for diversifying the local or regional economy, attracting new businesses and jobs and promoting economic development.
560.14(2)(a)2.
2. Enable a community-based organization receiving a grant to provide assistance to businesses or entrepreneurs, if the department determines that the entrepreneur or business will provide jobs.
560.14(2)(a)3.
3. Enable a community-based organization receiving a grant to conduct a local economic development project.
560.14(2)(c)
(c) An individual grant under this subsection may not exceed $30,000.
560.14(2)(d)
(d) A grant under this subsection to a political subdivision or community-based organization may not exceed 75% of the total cost of the project for which the grant is made, unless the department determines that the area where the funds will be used is in extreme financial hardship. The department may consider in-kind contributions when determining the total cost of a project under this paragraph.
560.14(3)(a)(a) The department may make grants from the appropriation under
s. 20.143 (1) (fg) to a community-based organization to fund any of the following:
560.14(3)(a)1.
1. The operation of an existing business incubator or technology-based incubator.
560.14(3)(a)2.
2. Technical assistance in the process of starting a business incubator or technology-based incubator, including a feasibility study of the need for and the initial design of the incubator.
560.14(3)(a)3.
3. Starting, expanding or rehabilitating a business incubator or technology-based incubator.
560.14(3)(a)4.
4. The creation of a revolving loan fund for tenants of a business incubator or technology-based incubator.
560.14(3)(b)
(b) The department may not make a grant under this subsection unless all of the following apply:
560.14(3)(b)3.
3. The total amount of grants under this subsection to a community-based organization do not exceed 50% of the total cost of the project for which the grants are made, unless the department determines that the area where the funds will be used is in extreme financial hardship. The department may consider in-kind contributions when determining the total cost of a project under this subdivision.
560.14(3)(b)5.
5. The community-based organization receiving the grant provides a written policy relating to how stable, maturing businesses in the business incubator or technology-based incubator will establish themselves outside of the incubator within a reasonable period of time.
560.14(3)(c)
(c) In making a grant under this subsection, the department shall consider all of the following:
560.14(3)(c)1.
1. The potential of the business incubator or technology-based incubator to help start businesses.
