Seesmart Technologies Inc (fka SEST)

[gte_gold]

$4.8 Billion in round 2 stimulus funding was announced last Friday (Jan 15). NTIA is allocated $2.6 Billion and RUS is allocated 2.2 Billion for round 2. Round 1 funding began December 17 and will be awarded on a rolling basis over 75 days. Round 1 awards should be completed by March 5 2010 by my count and we should know by that time if the EBITDA/OneFi received grant awards available during that round.

Round 2 funding rules are different. In round 1, there was one NOFA (Notices of Funds Availability) for combined BTOP and BIP programs. For round 2, there are separate NOFAs for each program. The BTOP program will focus on middle mile infrastructure to connect "key community anchor institutions- such as libraries, hospitals, community colleges, universities and public safety institutions". RUS will focus this 2nd round on last mile projects, which are anticipated to receive the vast majority of the $2.2 billion BIP funding. RUS will also fund middle mile projects involving current RUS program participants. The first NOFA had two funding options – grants up to 100 percent in remote rural areas, and 50/50 loan/grant combinations in non-remote rural areas. In the second NOFA, RUS has eliminated this distinction and adopted a base 75/25 grant/loan combination for all projects. The new approach provides RUS with flexibility to seek a waiver if additional grant resources are needed for areas that are difficult to serve, and priority for those who seek lower grant levels. RUS believes this simplified and flexible funding strategy will promote rural economic development.

If EBITDA seeks similar last mile infrastructure funding for round 2 as they did in round 1, they will most likely apply for BIP program loan/grants for this 2nd round. The agencies plan to accept applications from February 16, 2010, to March 15, 2010, and announce all awards by September 30, 2010.

www.ntia.doc.gov/press/2010/BTOP_BIP_NOFAII_100115.html

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