Northwest Side Community Development Corporation

NWSCDC SOCIAL ENTERPRISE INCUBATOR PROJECT

PURPOSE: TO PROVIDE GRANTS TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) FOR THE FOLLOWING PURPOSES 1) TO EXPAND LENDING, GRANT MAKING AND INVESTMENT ACTIVITIES IN LOW OR MODERATE INCOME COMMUNITIES AND TO BORROWERS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC; AND 2) TO ENABLE CDFIS TO BUILD ORGANIZATIONAL CAPACITY AND ACQUIRE TECHNOLOGY, STAFF, AND OTHER TOOLS NECESSARY TO ACCOMPLISH THE ACTIVITIES UNDER A CDFI ERP AWARD. PLANNED ACTIVITIES: ELIGIBLE ACTIVITIES INCLUDE FINANCIAL PRODUCTS, FINANCIAL SERVICES, DEVELOPMENT SERVICES, GRANTS, LOAN LOSS RESERVES AND CAPITAL RESERVES THAT MAY BE USED TO MITIGATE THE IMPACT OF THE COVID 19 PANDEMIC ON UNEMPLOYMENT, CHILDCARE, HEALTHCARE, MENTAL HEALTHCARE, AFFORDABLE HOUSING, AFFORDABLE HOUSING FINANCE, SMALL BUSINESS, SMALL FARMS, BROADBAND INTERNET, AND FOOD SUFFICIENCY. IN ADDITION, TO SUPPORT CDFIS IN BUILDING THEIR CAPACITY TO RESPOND TO THE ECONOMIC IMPACT OF COVID 19, CDFI ERP AWARDS MAY BE USED FOR COMPENSATION PERSONAL SERVICES; COMPENSATION FRINGE BENEFITS; PROFESSIONAL SERVICE COSTS; TRAVEL COSTS; TRAINING AND EDUCATION COSTS; EQUIPMENT; SUPPLIES. END GOALS: EXPANDED FINANCING FOR LOW TO MODERATE INCOME COMMUNITIES AND INDIVIDUALS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC INCLUDING SPECIFIC DESIGNATED COVID IMPACTED CDFI ERP ELIGIBLE GEOGRAPHIES AS AREAS THAT MAY BENEFIT FROM CDFI ERP ASSISTANCE. BENEFICIARIES: CERTIFIED CDFIS WHICH MAY BE FOR PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION, AS DEFINED IN 12 C.F.R. 1805, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.

CDFI RAPID RESPONSE PROGRAM AWARD

GIGACRETE MIDWEST BUSINESS STARTUP PROJECT - NORTHWEST SIDE COMMUNITY DEVELOPMENT CORPORATION (NWSCDC) WILL USE $800,000 IN CED FUNDS TO PROVIDE A LOAN TO GIGACRETE MIDWEST, A MANUFACTURER OF MODULAR HOME SYSTEMS, IN MILWAUKEE, WISCONSIN. GIGACRETE, INC. IS AN ESTABLISHED USA MANUFACTURING BUSINESS THAT HAS CREATED A NEW MODULAR CONSTRUCTION SYSTEM WHICH ELIMINATES THE NEED FOR TIMBER AND MOST OTHER TRADITIONAL BUILDING MATERIALS, OFFERING HOMES SUBSTANTIVELY LESS EXPENSIVE THAN THOSE MADE USING TRADITIONAL CONSTRUCTION PRACTICES. THE LOAN WILL FINANCE NEW EQUIPMENT, SUPPORT CONSTRUCTION BUILDOUT COSTS, AND PROVIDE WORKING CAPITAL FOR GIGACRETE MIDWEST TO LAUNCH OPERATIONS IN A 32,000 SQUARE FOOT MANUFACTURING SPACE AT AN EXISTING INDUSTRIAL FACILITY IN MILWAUKEE’S 30TH STREET CORRIDOR. ONCE LAUNCHED, GIGACRETE MIDWEST WILL CREATE FULL-TIME, PERMANENT MANUFACTURING JOBS FOR RESIDENTS OF MILWAUKEE’S NORTHWEST SIDE, WHICH FACES POVERTY RATES OF 27.6%, MUCH HIGHER THAN THE NATIONAL AND STATE AVERAGE. THE SPACE WILL ALSO RESULT IN TO 300 NEW AFFORDABLY PRICED AMERICAN-MADE HOMES PER YEAR ON VACANT LOTS IN MILWAUKEE. EMPLOYEES OF GIGACRETE MIDWEST WILL HAVE MANY BENEFITS: ACCESS TO PUBLIC TRANSIT, COMPETITIVE STARTING WAGES, WAGE GROWTH AND WORK ADVANCEMENT OPPORTUNITIES, PAID TIME OFF AND DEPENDABLE HOURS, AND WRAP-AROUND SERVICES WITH A FOCUS ON FINANCIAL LITERACY AND CAPABILITY, ACCESS TO CHILDCARE, TRANSPORTATION, AND HOMEBUYER PREPARATION. THE PROJECT WILL CREATE 29 JOBS, 22 OF WHICH WILL BE FILLED WITH INDIVIDUALS WITH LOW INCOME.

REYNOLD'S PASTIES BUSINESS EXPANSION PROJECT

THE RIGHT SCHOOL STARTUP PROJECT

CARE MANAGEMENT PLUS EXPANSION PROJECT

ATHEA LABORATORIES AND PACKAGING MANUFACTURING EXPANSION PROJECT

COMMUNITY ECONOMIC DEVELOPMENT (CED) PROGRAM

CSBG DISCRETIONARY AWARD - COMMUNITY ECONOMIC DEVELOPMENT

PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.

ARGON INDUSTRIES MANUFACTURING EXPANSION PROJECT

DIAMOND PRECISION PRODUCTS MANUFACTURING EXPANSION

COMMUNITY ECONOMIC DEVELOPMENT (CED) PROGRAM

COMMUNITY ECONOMIC DEVELOPMENT PROGRAM

COMMUNITY ECONOMIC DEVELOPMENT/OPERATIONAL

COMMUNITY ECONOMIC DEVELOPMENT (CED) PROGRAM

COMMUNITY ECONOMIC DEVELOPMENT (CED) PROGRAM

COMMUNITY ECONOMIC DEVELOPMENT (CED) PROGRAM

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

THE GROW MILWAUKEE RECOMPETE PLAN, LED BY THE NORTHWEST SIDE COMMUNITY DEVELOPMENT CORPORATION, WILL SUPPORT BUSINESS GROWTH, MODERNIZE INDUSTRIAL SITES, AND CREATE WORKFORCE PATHWAYS INTO QUALITY JOBS. BUSINESS EXODUS AND OTHER FACTORS SEPARATED THE 30TH STREET INDUSTRIAL CORRIDOR FROM BROADER ECONOMIC PROSPERITY IN THE SURROUNDING REGION. THE FINALIST WILL PURSUE A FOUR-PRONGED STRATEGY TO REVERSE THIS TREND WITH INVESTMENTS IN BOTH JOB GROWTH AND QUALITY JOB TRAINING. THE LEAD, A NON-PROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, WILL DRAW ON A COMMITTED NETWORK TO PURSUE ITS STRATEGY WITH PARTNERS INCLUDING THE CITY OF MILWAUKEE, WISCONSIN REGIONAL TRAINING PARTNERSHIP ? BIG STEP, MILWAUKEE AREA LABOR COUNCIL AFL-CIO, THE MILWAUKEE BUCKS, FROEDTERT HEALTH, AND ROCKWELL AUTOMATION.

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

GLRI: INNOVATION PAR

TECHNICAL ASSISTANCE AWARD

TECHNICAL ASSISTANCE AWARD

EXPAND THE NUMBER OF CLIENTS AND THE DEPTH OF RESOURCES MADE AVAILABLE TO THESE CLIENTS, LEADING TO ENHANCED OUTCOMES IN BUSINESS FINANCING, JOB CREATION, AND MOVING MICROENTREPRENEURS UP THE INCOME LADDER OUT OF POVERTY OR LOW-INCOME STATUS.

TO SUPPORT WATERMARKS, AN ART INSTALLATION AND ASSOCIATED COMMUNITY ENGAGEMENT ACTIVITIES.