Notes on San Francisco Nonprofit Space Investment Fund meeting
0. They expect to give away a total of $2 million in this round. (Don’t yet know how many NPOs apply and are granted per round)
1. The first hurdle is requesting a “consultation call” by August 10th - I just sent the email and got an autoreply promising a scheduling call on Monday (see https://www.ncclf.org/sfsustainability/)
2. We have until September 17th to submit an application.
3. Criteria for successful applications includes already having an *executed Letter Of Intent or purchase order* for a building or land. For leases, they want a minimum of a 55 year lease (which sounds like a land lease).
4. They have a laundry list of other criteria, including demonstrating financial stability (nothing unusual), and there is some wording indicating their program supports new building construction (also, perhaps).
Significantly, they require grantees to be in the final stages of property acquisition, to have already gotten an owner interested enough to countersign an LOI, or have executed a purchase agreement.5. Grant payout would be by June 30th, 2019, if we had a property ready to go
Also unclear: how often they grant. The grant application-review-award-payout cycle has a one-year duration. Whether it’s annual, quarterly or semiannual can’t tell.
If it’s annual, then we’ve got about a month to find a building and get the seller interested in us. Otherwise, for this program we’d be looking at 2020.