|
 |
|
|
|
Economic Development Initiative and Brownfields Economic Development Initiative Laws
|
From
the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 6, 1999]
[Document not affected by Public Laws enacted between
January 6, 1999 and October 26, 2000]
[CITE: 42USC5308]
Sec. 5308.* Guarantee and Commitment to Guarantee Loans for Acquisition of Property
- Economic
development grants
- Authorization
The Secretary may make grants in connection with notes or
other obligations guaranteed under this section to eligible
public entities for the purpose of enhancing the security
of loans guaranteed under this section or improving the viability
of projects financed with loans guaranteed under this section.
- Eligible
activities
Assistance under this subsection may be used only for the
purposes of and in conjunction with projects and activities
assisted under subsection (a) of this section.
- Applications
Applications for assistance under this subsection may be submitted
only by eligible public entities, and shall be in the form
and in accordance with the procedures established by the Secretary.
Eligible public entities may apply for grants only in conjunction
with requests for guarantees under subsection (a) of this
section.
- Selection
criteria
The Secretary shall establish criteria for awarding assistance
under this subsection. Such criteria shall include--
- the
extent of need for such assistance;
- the
level of distress in the community to be served and in
the jurisdiction applying for assistance;
- the
quality of the plan proposed and the capacity or potential
capacity of the applicant to successfully carry out the
plan; and
- such
other factors as the Secretary determines to be appropriate.
|
|
|
![[Logo: Homes and Communities: U.S. Department of Housing and Urban Development]](https://webarchive.library.unt.edu/eot2008/20081101061442im_/http://www.hud.gov/images/common/hgv-bnr-logo2.gif){kind=logo}
![[Vea la versión en español de esta página]](https://webarchive.library.unt.edu/eot2008/20081101061442im_/http://www.hud.gov/images/common/hgv-bnr-espanol2.gif)
![[Contact Us]](https://webarchive.library.unt.edu/eot2008/20081101061442im_/http://www.hud.gov/images/common/hgv-bnr-contactus.gif)
![[Display the text version of this page]](https://webarchive.library.unt.edu/eot2008/20081101061442im_/http://www.hud.gov/images/common/hgv-bnr-text.gif)
![[Search/Index]](https://webarchive.library.unt.edu/eot2008/20081101061442im_/http://www.hud.gov/images/common/hgv-bnr-search.gif)
![[The U.S. government's official web portal]](https://webarchive.library.unt.edu/eot2008/20081101061442im_/http://www.hud.gov/images/common/hgv-tpc-usagov.gif){kind=small}
![[logo: Fair Housing and Equal Opportunity]](https://webarchive.library.unt.edu/eot2008/20081101061442im_/http://www.hud.gov/images/common/hgv-icn-fheo.gif){kind=small}
![[Logo: HUD seal]](https://webarchive.library.unt.edu/eot2008/20081101061442im_/http://www.hud.gov/images/common/hgv-icn-seal.gif)