Economic Development Programs

Information by State  Print version   What's New Tax Incentives in Empowerment Zones Tax Incentives in Renewal Communities CPD Notice 06-09 - Issued October 12, 2006 - Field Environmental Review Processing for Rural Housing and Economic Development (RHED) Grants PDF| WORD | RHED Important Information on Central Contractor Registration (CCR) Changes Attention FY2006 SuperNOFA Applicants: At the end of July 2006, a policy change to CCR name and address information will take effect. more... HUD Empowerment Zone Funds Partners with City and County Dollars. The Grand Opening Celebration for the Five Points Village Plaza was held on Friday, May 5, 2006. HUD Field Policy & Management staff member spoke at the gathering, and joined others in encouraging area residents to patronize plaza stores. more... | Community Renewal Initiative Section 4 Guarantee Recovery Fund Application Kit This program authorizes a Loan Guarantee Recovery Fund to provide certain nonprofit organizations with a source of financing to rebuild property damaged or destroyed by acts of arson or terrorism. For additional information, please contact Mr. Thann Young at (202) 708-2290. PDF | Word A Guide to Registering for Grant Opportunities Using Grants.gov This training (Feb 16, 2006 @ 2pm) will give potential applicants an opportunity to become familiar with the Grants.gov registration process and to ensure everyone understands the requirements to enable them to submit an application via Grants.gov. View Webcast | Grants.gov Broadcast on $19 Billion for Renewal Community, Empowerment Zone, and Gulf Zone Businesses more... - Summary of Tax Incentives - Tax Incentives at a Glance Fiscal Year 2005 Youthbuild Awards Jackson Announces $58 Million to Offer Thousands of Young People a New Start Building Affordable Housing. Thousands of students to produce nearly 2,000 affordable homes. more... | Project Summaries Notice of Opportunity To Register Early for Electronic Submission of Grant Applications for Fiscal Year (FY) 2006 HUD Funding Oportunities A notice was published in the Federal Register on December 9, 2005, which describes the steps that HUD applicants must take to register successfully at the Grants.gov website. Registering now, in advance of HUD posting its FY 2006 funding opportunities, can provide applicants sufficient time to address questions with the registration process. Related information is available on the Grants.gov website. Note also that a new governmentwide SF-424 form will be used this year. more... | SF-424 form Instructions More News Stories... 2006 SuperNOFA HUD Publishes Fiscal Year 2006 Funding Notice Making $2.2 Billion Available Through 39 Individual Programs   RHED Program Grants   03/21/06 Webcast - Without Captions - With Captions - Slides   BEDI Program Grants   04/12/06 Webcast - Without Captions - With Captions   Youthbuild Program Grants   04/18/06 Webcast - Without Captions - With Captions - Slides   Youthbuild TA Grants   03/30/06 Webcast - Without Captions - With Captions - Slides SuperNOFA for CPD Programs | Press Release | Funds Available | Grants.gov

This site provides a summary of the various programs and initiatives in the Office of Economic Development and links to related federal economic development programs.

Renewal Community/ Empowerment Zone/ Enterprise Community (RC/EZ/EC) Initiative
The RC/EZ/EC Initiative is vital to development in more than 100 distressed urban and rural areas nationwide. The Initiative, through a combination of innovative tax incentives, federal grants, and partnerships with government, for-profit and non-profit agencies, has opened new businesses and created jobs, housing, and new educational and healthcare opportunities for thousands of Americans.

Economic Development Initiative (EDI)
The EDI provides grants on a competitive basis to entitlement communities. Non-entitlement communities are eligible as supported by their state governments. EDIs must be used in conjunction with loans guaranteed under the Section 108 Program to enhance the feasibility of economic development and revitalization projects financed with Section 108 Loan Guarantee funds. No new grants are being awarded.

Brownfields Economic Development Initiative (BEDI)
The BEDI provides grants on a competitive basis to local entitlement communities. Non-entitlement communities are eligible as supported by their state governments. BEDIs must be used in conjunction with loans guaranteed under the Section 108 Program. Communities fund projects with the BEDI grants and the 108 guaranteed loan financing to clean up and redevelop environmentally contaminated industrial and commercial sites, commonly known as "brownfields."

Youthbuild
Youthbuild provides grants on a competitive basis to non-profit organizations to assist high-risk youth between the ages of 16-24 to learn housing construction job skills and to complete their high school education. Program participants enhance their skills as they construct and/or rehabilitate affordable housing for low- and moderate-income persons. For additional information on this program, check the YouthBuild USA web site.

Rural Housing and Economic Development (RHED)
Enacted in 1999, RHED provides grants on a competitive basis principally to non-profit organizations to support capacity building, housing, and economic development programs.

Section 108 Loan Guarantee Program (Section 108 Program)
Community Development Block Grant (CDBG) entitlement communities are eligible to apply for a guarantee from the Section 108 Loan Guarantee program. CDBG non-entitlement communities may also apply, provided that their State agrees to pledge the CDBG funds necessary to secure the loan. Non-entitlement applicants may receive their loan guarantee directly or designate another eligible public entity such as an industrial development authority, to receive it and carry out the Section 108 assisted project.

Section 4 Guarantee Recovery Fund
Section 4 is a loan guarantee provision authorized under the Church Arson Prevention 4 Act of 1996 (the Act). It authorizes a Loan Guarantee Recovery Fund to provide certain nonprofit organizations with a source of financing to rebuild property damaged or destroyed by acts of arson or terrorism.

Congressional Grants
Congressional Grants are authorized each year in the annual HUD appropriation and accompanying conference report. Congress authorizes a specific level of funding to a designated grantee, to undertake a particular activity cited in the appropriation or conference report. Only those entities desginated by Congress may apply for funds. Unsolicited applications are not accepted.