Dubuque Racing Association Special Projects Grant

Timeline:

July 17 – August 30: Written Application
Sept – October: Committee Review/Organization Presentations
Tuesday, November 12: Committee Recommendation to Executive Committee
Tuesday, November 19: Approval by Full Board

Application Guidelines:

Eligible Applicants

Eligible applicants shall be organizations with a valid 501(c)(3) issued by the Internal Revenue Service. Organizations funded through the DRA Special Projects Grant are ineligible for funding from the DRA Grant Award Program for the following year.

Eligible Projects

Eligible projects include construction or renovation for the purpose of site improvement, equipment purchases, start-up costs (limited to no more than one year operating expense and plan for self-sufficiency) and other projects as may be deemed appropriate by the DRA Special Projects Committee.

Requests will be accepted for $50,000 – $250,000.

To be eligible for financial assistance, the project must satisfy the following criteria:

  • Minimum $200,000 Cost: The total cost for a project must be at least $200,000.
  • Local Support: Evidence of broad-based community support for a project is needed to fulfill this requirement. DRA Special Projects Grant funding may not constitute more than 50% of total project costs. Up to 25% of resources provided by the applicant may be in the form of in-kind or non-financial contributions, which may include but are not limited to the value of labor and services
  • Demonstrated Financial Need: Funding needs can take on different aspects. The need may be to start a project, finish a project, or somewhere in between.
  • Area of Impact (Socially and Geographically):The project should benefit persons socially and/or economically in the City of Dubuque and surrounding communities.
  • Timeline:The project/program must be completed within 24-months of the date the award is announced (tentatively set for November 19, 2019).

Guidelines for Submission

1.Read all guidelines and instructions carefully prior to completing the application.
2. Use clear and concise language in the application narratives.
3. If any questions are left unanswered or required attachments are not submitted, an explanation must be attached to the application.
4. Applications must be completed and submitted via the online application portal, paper applications will not be accepted.
5. The online application will be available from Wednesday, July 17 – Friday, August 30. Applications must be submitted by 5pm on the deadline date.
6. Inaccurate information may disqualify the application from consideration.
7. All inquiries should be directed to Kathy Young, Director of Grants, for the Dubuque Racing Association, please do not reach out directly to board members or other DRA Staff regarding the applications process or status.

Application Review/Scoring

The DRA Special Projects Committee will rate the applications on the basis of:

– Feasibility (0-25 points, 15-point minimum required)

The Special Projects grant is designed to assist projects which will remain viable and sustainable. If a feasibility study has been completed, please include it with the application. To determine the feasibility of the project the following will be addressed as part of the application:

      o Project Description:Provide a brief narrative describing the proposed project. The narrative should address the following issues:
  • Title and an overview of the project.
  • The amount of funds for the project and the amount requested from the DRA.
  • A general description of the proposed uses of the funds requested.
  • The proposed date for beginning an eligible project if an award is made.
  • The timeline for project completion, including dates for completing major milestones.
  • The specific site for the project, noting any required acquisition of project related to the project.
  • Any formal studies that support the project. Attach relevant portions of those studies.
      o Business Plan: Provide a comprehensive business plan for the project. The business plan should address the following topics:
  • The project budget.
  • Plan for self-sufficiency.
  • The sources and/or amount of initial capitalization provided by each participant if applicable.
  • A marketing plan, including a description of advertising and promotional activities.
  • A description of the management team and information about the capability of key personnel to implement and manage the project.
  • An operational and maintenance plan that provides detailed information about how the proposed project will be operated and maintained on an ongoing basis.
  • A description of the historical performance of the project
      o Supplemental Information: Provide the following supplemental information items:
  • Detailed information about the cost and various elements of the project.
  • Current audit.
  • Complete list of available funds, both restricted (including board restricted and donor restricted) and nonrestricted.
– Social and Economic Impact (0-25 points, 15-point minimum required)

The application must demonstrate that the project will have a positive impact on society and/or the economy in order to be eligible for funding.

      o Brief Narrative: Prepare a brief narrative describing the potential social and/or economic impact of the project. The narrative should address the following issues:
  • An overview or summary of the potential social and/or economic impact of the project, including a description of the primary beneficiaries of the project.
  • A description of how the proposed project fits within the community’s overall economic-development plans. Indicate the specific elements of existing community economic-development plans which address the proposed project, if possible.
  • A description of how the project will affect the quality of life in the community.
  • A description of the long-term economic viability of the project, including projected revenues and expenses.
      o Listing of Economic Impacts: List the following specific information for the proposed DRA Special Projects Grant.
  • The number of jobs to be created and/or retained.
  • The wages associated with the jobs.
  • The average wages and benefits provided to employees in the current jobs.
      o Listing of Social Impacts
  • Needs assessment for the program.
  • Clientele to be served.
– Matching Funds (0-25 points, no minimum points)

When evaluating applications for financial assistance under the DRA Special Projects Grant, the committee will consider the extent to which local resources have been dedicated to support a proposed project. A higher rating will be provided to those projects which have a higher proportion of local resources to be contributed to the project than the 50% minimum dollar requirement. A higher rating will also be provided to those projects which are financially supported by both public and private organizations and/or individuals, i.e., not-for-profit economic-development organizations and for-profit companies. A minim score is not required to be eligible for funding.

      o Documentation of Matching Funds: Provide detailed information that will substantiate matching funds for the proposed project. This information may include, but is not limited to the following:
  • A corporate resolution approved by the directors of a participating for-profit corporation or a letter of commitment from an authorized representative of the corporation or other for-profit company.
  • A corporate resolution approved by the directors of a participating not-for-profit corporation or a letter of commitment from an authorized representative of the corporation or other not-for-profit organization.
  • A letter of commitment from an individual.
  • A corporate resolution approved by the directors of a participating foundation or a letter of commitment from an authorized representative of the foundation.
  • In each instance, the resolution or letter of commitment should indicate the amount of financial support to be provided and the projected date on which the funds will be made available to the project. Please list any restrictions.
  • List all other avenues of funding available, such as bonding.

– Recognition
Please describe how the DRA will be recognized for the funding provided to the project.

– List of Committee Members
A complete list of committee members (paid and volunteer) with title or list of duties as related to the project in which funds have been requested.

Awarding of Funds

The project/program must be completed within 24-months of the date the award is announced (tentatively set for November 19, 2019).

Organizations awarded a DRA Special Projects Grant will be required to submit status reports quarterly for the first year, every 6-months the second year, and once during the third year. This will be coordinated by the Director of Grants for the DRA. Follow-up reporting may include a written report and/or presentation to the DRA Board of Directors.

Funds will be distributed upon project completion.

Any questions regarding the DRA Special Projects Grant should be directed to Kathy Young, Director of Grants for the DRA.

Dubuque Racing Association