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The American Recovery and Reinvestment Act of 2009 ("Stimulus Act")
The Stimulus Act, enacted February 17, 2009, creates a number of opportunities for telecommunications carriers to receive federal assistance in the form of grants, loans, or loan guarantees in order to invest in the equipment and facilities necessary to offer broadband capability.
$2.5 billion has been set aside for grants, loans, and loan guarantees to be administered by the Department of Agriculture's Rural Utilities Service ("RUS"), and $4.7 billion has been set aside for grants to be administered by the Department of Commerce's National Telecommunications and Information Administration ("NTIA").
Wood & Wood assisted clients with the successful preparation and submission of applications to both the BIP and BTOP programs in the first funding round. To date, the awards by both RUS and NTIA in round one have been limited in number and scope.
On January 15, 2010, NTIA and RUS announced the publication of the Notices of Funds Availability ("NOFAs") that set forth the objectives, priorities, and rules for applications to be submitted in the second funding round. Round two applications will be accepted until March 15, 2010.
Wood & Wood is fully engaged in this process so that we will be in the best position possible to assist clients with the planning and development of grant applications.