Relating To The Hawaii Community-based Economic Development Technical And Financial Assistance Program.
Impact
A significant aspect of HB 899 is its expansion of eligibility criteria for organizations seeking grants. Previously, the program primarily served community-based organizations, particularly non-profits. The new provisions allow not only these entities but also businesses that currently hold or wish to apply for Community-Based Economic Development loans to receive technical assistance. This shift aims to create a more inclusive grant program that can address a wider array of community development needs, which is expected to strengthen local economies across Hawaii.
Summary
House Bill 899 aims to enhance the Hawaii Community-Based Economic Development Technical and Financial Assistance Program. The bill proposes amendments to the current laws that govern the allocation of grants aimed at supporting community-based businesses and enterprises. It stipulates that grants will be available for amounts not exceeding $100,000 per applicant, and applications must adhere to specific conditions set by the governing department. The intended use of the funds is strictly for community-based economic development activities and associated enterprises, fostering a more robust local economy through targeted support.
Contention
However, the bill does present potential points of contention. With the expanded eligibility, there may be concerns regarding the equitable distribution of funds, particularly regarding the balance between supporting established businesses versus newly emerging community enterprises. Additionally, the bill mandates compliance with various discrimination laws and precludes the use of grants for entertainment or personal perks, which proponents argue is necessary for accountability. Nevertheless, critics may view these stipulations as overly restrictive or cumbersome, potentially deterring some applicants from seeking assistance.