Yesterday, Business Oregon and the Governor’s Regional Solutions Program officially opened a request for applications to the Regional Infrastructure Fund (RIF). This fund is one of the tools used to support economic and community development by providing grants and loans to local governments for Regional Solutions capital construction projects. Business Oregon administers the fund.
During the 2017 Legislative Session, the Legislature authorized the issuance of lottery bonds to produce $4 million in net proceeds for the RIF and requested that projects be approved by the Legislature or Emergency Board before the bonds are sold in spring of 2019. The $4 million is to be distributed statewide, with each of the 11 regions being allotted a minimum of $200,000. We are seeking applications for capital construction projects between $50,000 and $1 million.
Applications are due by April 30, 2018. Please visit the Regional Solutions website for the application and more information.