Appropriation; Mississippi Main Street Association to make revitalization grants to Mississippi communities.
Impact
The Mississippi Main Street Association is tasked with distributing these grants according to the size of communities. Communities with populations over 25,000 are allocated a total of $2,000,000 via 8 grants of $250,000. For communities with populations between 10,000 and 25,000, the total allocated is $3,150,000 for 14 grants of $225,000. Communities with less than 10,000 residents are allocated $5,200,000 through 26 grants of $200,000. Additionally, administrative expenses for MMSA are slated to use $352,500 from the total amount appropriated.
Summary
House Bill 1539 proposes an appropriation of $10,702,500 from the Coronavirus State Fiscal Recovery Fund to the Mississippi Main Street Association (MMSA) for the purpose of providing Main Street Revitalization Grants to communities in Mississippi. This funding is designated for the fiscal year 2023, which runs from July 1, 2022, to June 30, 2023. The intention behind this bill is to support the revitalization of local economies while also addressing the impacts brought on by the pandemic.
Contention
While the bill is generally positioned as a beneficial move for local economies during post-pandemic recovery, there may be contention surrounding the distribution criteria and effectiveness of such programs. Similar initiatives often prompt discussions regarding equitable access to funds among diverse communities and the overall impact on achieving long-term economic resilience. There may also be questions regarding the administrative expenses and the extent to which they detract from the funds available for community revitalization.
Implementation
The act is set to take effect on July 1, 2022, which means that the MMSA will begin coordinating the grant process to ensure it aligns with the stated goals of economic support and revitalization for eligible Mississippi communities. It is expected that this proactive approach to funding could stimulate local businesses and foster community development as cities recover from the economic downturn caused by the pandemic.
Appropriation; Mississippi Development Authority for Mississippi Main Street Association to increase capacity to provide assistance to Main Street communities.