Regions Rise Grant Program.

Existing law, the Economic Revitalization Act, establishes the Governor's Office of Business and Economic Development, also known as "GO-Biz," in state government within the Governor's office under the control of a director. The act requires GO-Biz to serve as the Governor's lead entity for economic strategy and the marketing of California on issues relating to business development, private sector investment, and economic growth. This bill would establish the Regions Rise Grant Program within the Governor's Office of Business and Economic Development for the purpose of supporting inclusive, cross-jurisdictional, and innovative processes that lead to inclusive strategies to address barriers and challenges confronting communities in creating economic prosperity for all. The bill would define "region" as a geographic area comprised of one or more counties and cities that form a functional economy. This bill would require the office to develop and implement a process for the awarding of competitive grants to eligible applicants. This bill would define an eligible applicant as a regional collective comprised of public and private stakeholders who organize themselves around one or more community challenges or priorities impacting a region and meet certain requirements established in the bill. The process for awarding grants would be required to meet certain minimum conditions, including, but not limited to, that the funds awarded be available for a period of 3 years, and that the application contain specified information. The bill would require the office, upon appropriation by the Legislature, to issue grants to qualified regional collectives as specified. The bill would also require the regional collective receiving funding to submit a copy of its annual and final report, as provided, to the office and each city and county within the areas identified in their application as the geographic boundary of their work.