Joint Opportunities for Building Success
Changes in 2010
The application deadline moved up to April 1, 2010. An additional $250,000 in funding is available, bringing the total funding for 2010 to $1.25 million. The 2010 JOBS application is available at the right.
Project target areas now may be a single community, county, Census tract or any combination of up to 10 entities. Applications are evaluated on seven competitive considerations.
- Asset-based score (regional approach, education/workforce training, cooperation/collaboration)
- Community distress ranking
- Project employment percentage of labor force
- Member FHLBank products (advances to assets ratio)
- JOBS leverage percentage
- Member participation
- Community participation in the project
If you need technical assistance during your application, please contact Noelle St. Clair, Community Programs specialist at 866.571.8155.
2009 Program Information
The Joint Opportunities for Building Success (JOBS) program is an economic development initiative that assists members in promoting employment growth in their communities. Annual funding is subject to board approval. A total of $1 million was allocated for JOBS in 2009.
Common Uses
- Reducing the interest cost on small business loans
- Funding a micro-loan pool as part of a downtown revitalization program
- Facilitating entrepreneurship training and funding viable small business projects
- Enhancing equity financing through Small Business Investment Corporation activity
- Collaborating with recently established resources such as the New Markets Tax Credit and the Community Development Financial Institutions programs
- Infrastructure development that leads to increased employment opportunities
PROGRAM REQUIREMENTS
- Maximum funding of $25,000 per member (and $25,000 per project) annually. Members may be approved for multiple grants but will be limited to the annual maximum. Loan pools and similar funding mechanisms are eligible to receive more than one JOBS award annually provided there is an eligible project in the pool for each JOBS application funded.
- JOBS funds cannot be used for the direct benefit of the member (e.g., infrastructure improvements to facilitate a new branch location) or an affiliate of the member. Members are precluded from using JOBS funds for their own benefit.
- Members and project participants agree to take part in publicity highlighting their role and that of FHLBank’s to the project, community and region.
- Projects that appear to be “bailouts” are ineligible.
- Failure on the part of a member to supply any requested documentation may result in the member being restricted from access to FHLBank's Housing and Community Development programs. In addition to JOBS applications, this would include the Affordable Housing Program, Homeownership Set-aside Programs and Community Housing Program/Community Development Program advances.
Board of Directors Approval
After FHLBank staff have evaluated applications pursuant to the rating system described above, FHLBank will forward to board of directors for final funding consideration the applications from projects receiving the highest overall ratings.
In the event all JOBS funds are not allocated by October 31, FHLBank will consider requests consistent with the program’s goals on a first-come, first-served basis for the remainder of the year.
Questions? Noelle St. Clair, Community Programs specialist, ph: 866.571.8155, e-mail: HCDCSP@fhlbtopeka.com.
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