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Monetary Funds Process

 

ida Monetary Funds Program Overview

The purpose of the IDA Monetary Funds Program is to support economic development efforts that benefit the citizens of the City of Scottsdale with an emphasis on job creation and job training. The IDA accepts proposals once a year per the schedule below. Applications may be submitted up to 90 days in advance, but will not be accepted beyond the application deadline determined by the IDA each year as funds allow. Applications are to be submitted to the IDA via city the staff representative. The IDA may contribute funds annually during the application period to nonprofit projects based upon evaluation of the criteria listed below. The IDA reserves the right to approve or disapprove any request for monetary funds in its sole discretion.


REQUEST Evaluation Criteria

  1. Project has a measurable and direct economic impact on the City of Scottsdale by supporting an existing business or new business activity which will attract additional economic activity or visitors to the City of Scottsdale

  2. Project provides opportunity for job growth in Scottsdale in target industries as identified by the Economic Development Department and approved by the Scottsdale City Council

  3. Project supports economic development initiative in alignment with City goals

  4. Project measurably enhances quality of life for residents and business owners of the city through programs including, but not limited to: education, health care, etc.

  5. Project funding will be used to support the long-term economy of the City through research or data analysis designed to identify potential markets for business, culture, training or educational purposes

Application Evaluation Criteria 

  1. Applicant demonstrates financial accountability and responsibility

  2. Applicant lacks other funding sources for its specific initiative

  3. Applicant shows evidence of past successes in similar projects

  4. Projects in which funding will be used to support the long-term economy through  research or data gathering designed to identify potential markets for  business, culture, training or educational purposes.

Request Process

  1. The applicant submits an application to the IDA no more than 90 days prior to the November 28 deadline for consideration. Refer to the Annual Timeline for Application Process below.

  2. The IDA shall consider proposals based upon the information received, merits of the project and response to the requested criteria submitted in the Application. Additional information or presentations may be requested before a final decision is made.

  3. The Board shall approve or disapprove of the application in its sole discretion.

  4. Funds and/or guidelines as to the fund dispersal process are delivered to the applicant within 45 days of initial funding approval.

For more information on the Monetary Funds Process, please contact:

Rob Millar
Economic Development Department
4021 North 75th Street, Suite 102
Scottsdale, AZ 85251
Phone:  480-312-2533
rmillar@ScottsdaleAz.gov