(1) The Oregon Business Development Department shall develop and implement an Economic Equity Investment Program under which the department shall award grants to organizations that provide culturally responsive services to support economic stability, self-sufficiency, wealth building and economic equity among disadvantaged individuals, families, businesses and communities in this state.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

(2)(a) The department shall prescribe the form and manner in which an organization may apply for a grant under the program.

(b) An organization’s application must demonstrate a proven ability to provide services as described in subsection (3) of this section.

(3) Grant moneys shall be awarded to organizations only for proposals to provide outreach, support and resources to individuals, families, businesses or communities whose future is at risk because of any combination of two or more economic equity risk factors in order to improve economic equity as measured by:

(a) Ownership of land, principal residences and other real property;

(b) Entrepreneurship;

(c) Business development;

(d) Workforce development; and

(e) Intergenerational wealth building, such as savings, investments and real property equity.

(4) Upon request, the department shall provide technical assistance to organizations that receive grant moneys under the program and may consult with an organization about the organization’s needs to maintain capacity to carry out the proposal for which the grant moneys were awarded. [2022 c.103 § 2]

See note under 285B.760.