047907706
Project Grant
Overview
Grant Description
This EDA investment supports the construction of a tailout trail in the Tom Lee Park, a stunning new riverfront park in Memphis being built on the storied Mississippi River.
The tailout trail will be one-of-a-kind, inviting visitors up and (during high water) over river habitat for spectacular views of the Mississippi, the Arkansas floodplain, and the more than 325 bird species.
The project will draw national attention and support to Memphis and is expected to bring thousands of new visitors to the riverfront. These visitors will have a significant impact on nearby restaurants, music venues, and hotels.
Once completed, the tailout trail will be a major focal point for eco-tourism in Memphis, spawning new small businesses associated with river touring, biking, and hiking. This will help increase employment opportunities, spur private investment, and advance economic resiliency throughout the region.
The tailout trail will be one-of-a-kind, inviting visitors up and (during high water) over river habitat for spectacular views of the Mississippi, the Arkansas floodplain, and the more than 325 bird species.
The project will draw national attention and support to Memphis and is expected to bring thousands of new visitors to the riverfront. These visitors will have a significant impact on nearby restaurants, music venues, and hotels.
Once completed, the tailout trail will be a major focal point for eco-tourism in Memphis, spawning new small businesses associated with river touring, biking, and hiking. This will help increase employment opportunities, spur private investment, and advance economic resiliency throughout the region.
Grant Program (CFDA)
Awarding / Funding Agency
Place of Performance
Memphis,
Tennessee
38103-2194
United States
Geographic Scope
Single Zip Code
Related Opportunity
None
Analysis Notes
COVID-19 $3,731,439 (100%) percent of this Project Grant was funded by COVID-19 emergency acts including the American Rescue Plan Act of 2021.
Riverfront Development Corporation was awarded
Tailout Trail: Boosting Memphis Eco-Tourism
Project Grant 047907706
worth $3,731,439
from Economic Development Administration in June 2022 with work to be completed primarily in Memphis Tennessee United States.
The grant
has a duration of 3 years 4 months and
was awarded through assistance program 11.307 Economic Adjustment Assistance.
$6,088,137 (62.0%) of this Project Grant was funded by non-federal sources.
Status
(Complete)
Last Modified 7/1/22
Period of Performance
6/7/22
Start Date
10/7/25
End Date
Funding Split
$3.7M
Federal Obligation
$6.1M
Non-Federal Obligation
$9.8M
Total Obligated
Activity Timeline
Additional Detail
Award ID FAIN
047907706
SAI Number
None
Award ID URI
SAI NOT AVAILABLE
Awardee Classifications
Nonprofit With 501(c)(3) IRS Status (Other Than An Institution Of Higher Education)
Awarding Office
1331K5 DEPT OF COMMERCE EDA
Funding Office
1331K5 DEPT OF COMMERCE EDA
Awardee UEI
WSXUKBKF8954
Awardee CAGE
4Q6J6
Performance District
09
Senators
Marsha Blackburn
Bill Hagerty
Bill Hagerty
Representative
Steve Cohen
Budget Funding
| Federal Account | Budget Subfunction | Object Class | Total | Percentage |
|---|---|---|---|---|
| Economic Development Assistance Programs, Economic Development Administration, Commerce (013-2050) | Area and regional development | Grants, subsidies, and contributions (41.0) | $3,731,439 | 100% |
Modified: 7/1/22