Steve Hardin
601.359.3179
shardin@mississippi.org

The Capital Improvements Revolving Loan Program (CAP) provides loans to municipalities and counties in Mississippi for the improvement of public facilities and infrastructure.

Examples of eligible projects include:

• Construction or repair of water and sewer facilities
• Construction or repair of drainage systems for industrial development
• Improvements in fire protection
• Construction of new buildings for economic development purposes
• Renovation or repair of existing buildings for economic development purposes
• Construction or repair of access roads for industrial development
• Purchase of buildings for economic development purposes
• Construction or repair of railroad spurs for industrial development
• Construction of any county or municipally-owned health care facilities, excluding any county health departments
• Construction, purchase, renovation or repair of any building to be utilized as an auditorium or convention center
• Construction of multipurpose facilities for tourism development
• Loans to a county to aid in retiring interest-bearing loans utilized for the purchase of a motion picture sound stage
• Construction, repair and renovation of parks, swimming pools and recreational and athletic facilities. (Not intended to be used for school districts or for commercial purposes, such as health clubs, skating rinks, miniature golf courses, etc.)
• Remediation of brownfield agreement sites in accordance with Sections 49-35-1 through 49-35-25 may be considered as an eligible project.

Application for assistance must be submitted by the governing authority of the county or an incorporated municipality on behalf of an eligible industry.

Eligible industries include:

• Manufacturers
• Warehouses and distribution centers
• Research and development facilities
• Hospitals
• Telecommunications and data processing facilities
• National or regional headquarters

The construction or renovation of economic development buildings for speculative purposes requires a 50/50 match. The match must be in cash or in-kind assets.

Economic Development related projects are defined as projects that promote full time private sector job creation and/or retention. One full - time job is the equivalent of a minimum of 1,820 annual work hours. Project awards will be limited to: not more than $20,000.00 per job, or a maximum loan amount of $2,500,000.00 whichever is less.

Community Development related projects are defined as non-job creating projects that benefit a need in a community unrelated to economic development. Project loan awards will be limited to $750,000.00 per project or $1,000,000.00 per applicant, per calendar year. Loans for the construction, repair and renovation of parks, swimming pools and recreational and athletic facilities shall not exceed $250,000.00 per project.

For specific information please see the program guidance.

Contact Steve Hardin for additional information.