POTSDAM — The Village of Potsdam hopes to apply for a small business assistance grant to help local entrepreneurs start-up a new business within the village, said a press release from Village Mayor Reinhold J. Tishcler.

If there is sufficient demand for assistance, the village may apply to the NYS Office of Community Renewal for a micro-enterprise grant funded through the Community Development Block Grant Program, the press release said.

Micro-enterprises are those firms having five or fewer employees including the business owner(s).

The micro-enterprise grant program may provide new businesses with a grant for up to $35,000 to help offset the cost of business start-up.

A start-up business is defined as one that has been in operation less than six months before applying for grant assistance. Successful applicants must provide a minimum of ten percent owner equity in cash toward business start-up expenses. In addition, successful applicants will be required to complete a small business start-up training program provided by the village, the press release said. Grant funds may be used for a range of eligible expenses including the purchase of plant/machinery, furnishings, fixtures

and equipment, inventory or for working capital. Construction or renovation costs are not eligible for assistance through the program.

One of the requirements for receipt of a micro-enterprise grant is the creation of job opportunities for people who are of low or moderate income. The business owner as well as potential employees may qualify as low to moderate income based on the federal government's annual income guidelines. At least fifty-one percent

of the jobs created must be held by or made available to low- and moderate-income people.

The proposed grant program will be available in any area of the Village zoned for retail, commercial or industrial use under its zoning code. This will open the proposed program up to the widest possible mix of local businesses.

Potsdam proposes to submit a pre-application for a micro-enterprise grant on or about June 5. Its application depends entirely upon local interest in the micro-enterprise program. Local entrepreneurs who are interested in participating in the program application should complete a pre-application survey and submit it to the Village of Potsdam Planning and Development Office before Friday, April 16.

The survey can be downloaded from the Village website www.vi.potsdam.ny.us or by contacting Fred Hanss, Director of Planning and Development at fhanss@vi.potsdam.ny.us .

For more information contact Mr. Hanss at fhanss@vi.potsdam.ny.us or 315-265-1670.