MASBDA Announces Availability Of Grants For Biofuel Entities
On June 4, 2020, the Missouri Agricultural and Small Business Development Authority (MASBDA) announced the creation of the Biofuel Infrastructure Program (BIP). Designed to increase the availability of higher blends of ethanol and biodiesel in Missouri, BIP partners with private entities to support biofuel producers in applying for U.S. Department of Agriculture (USDA) Rural Development’s Higher Blends Infrastructure Investment Program (HBIIP) funding. The MASBDA Board of Directors has allocated up to $2 million statewide in grant funds. The maximum grant amount is $200,000 for each business entity and can be used to fulfill up to 25 percent of the cash match obligation required for HBIIP. Eligible project costs include but are not limited to:
- Retrofitting of existing, or purchase and installation of new, fuel dispensers (gas and/or diesel pumps) and attached equipment, underground storage tank system components, and other infrastructure required at a location to ensure the environmentally safe availability of fuel containing ethanol blends greater than 10 percent or fuel containing biodiesel blends greater than 5 percent;
- Construction, retrofitting, replacement, and improvements;
- Fees for construction permits and licenses; and
- Professional service fees for qualified consultants, contractors, installers, and other third-party services.
The application deadline for these grants is July 1, 2020. A non-refundable fee of $150 must accompany applications up to $25,000, and a fee of $300 for applications of $25,000 and over. For funded grants, an administrative fee of 10 percent of the grant amount will be assessed when the contract is executed. Further information can be accessed here, and the application here.
MASBDA Executive Director, Jill Wood, expressed enthusiasm for the newly created BIP, stating that her team at MASBDA “is excited to stand in the financial gap that may help some agribusinesses from applying these federal funds.”