The Grand Forks County Commission on Tuesday declared the county a federal recovery zone that will allow it to accept more than $30 million in federal stimulus funds to be used to promote job creation and economic recovery.
The declaration will allow the county to issue as much as:
- $19.44 million in Recovery Zone Facility Bonds, and
- $12.96 million in Recovery Zone Economic Development Bonds.
The facility bonds are available for low-cost financing of economic development projects such as large manufacturing plants, distribution centers, research parks, hotels, etc.
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Economic development bonds are available for promoting development and other economic activity, including public infrastructure and construction of public facilities or job training and educational facilities.
Statewide, North Dakota has been allocated $135 million in facility bonds and $90 million in economic development bonds.
The money is part of the $25 billion federal American Recovery and Reinvestment Act of 2009, for projects that are considered shovel-ready.
The application period in Grand Forks County begins Nov. 2 and ends Dec. 31.
"We have people waiting to apply, that may apply," Commissioner Gary Malm said.
The county expects to allocate the funds in January or early February.
Cass County has been allocated the largest share, totaling $44 million in facility bonds and $29 million in economic development funds.
At least one county in North Dakota has refused the federal stimulus funding.
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Burleigh County, home of Bismarck, earlier this week voted to reject more than $9 million in federal stimulus funds.
The news came in spite of the pending layoff of 475 Bismarck workers at Bobcat, an international skid-steer loader manufacturer.
Burleigh County commissioners said accepting the federal funds would send a mixed signal about the economic climate in Bismarck and Burleigh County. Under federal rules, money that is not used by counties is kept in the state and reallocated to other counties or cities.
In other business, the County Board approved a change order, adding up to $16,000 for the County Office Building Parking Ramp project, which had been estimated at just less than $90,000.
According to County Administrator Ed Nierode, extra drainage is needed to make sure water drains rather than ponds in certain areas. The ramp remains closed. He said he still is hopeful the project will be completed by early November.
