CDFI Fund: Application Demand Released for FY Round of Capital Magnet Fund
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the application data for the fiscal year (FY) 2023 round of its Capital Magnet Fund (CMF) program. A total of 144 organizations submitted applications requesting more than $1.1 billion in funding. The applicants propose to serve 49 states, the District…
EDA: First Tech Hubs Funding Opportunity Launched
As part of the President’s Investing in America Agenda, the U.S. Department of Commerce seeks applications to develop regional centers of innovation and job creation The Biden-Harris administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), today launched the Regional Technology and Innovation Hubs (Tech Hubs) competition. This program will create tech hubs in regions…
HUD: More Than $22 Million Awarded to Expand Access to Affordable Housing & Homeownership
$12.5 million in Self-Help Homeownership Opportunity (SHOP) Grants; $10 million Rural Capacity Building Grants The U.S. Department of Housing and Urban Development (HUD) today awarded $12 million in grants to support non-profit, self-help housing organizations that enable homeownership opportunities for hard-working, low-income families and individuals. Funded through HUD’s Self-Help Homeownership Opportunity Program (SHOP), the grants awarded…
HUD: More Than $837 Million Announced to Improve Housing Quality and Reduce Energy Costs for Underserved Communities
New funding from Inflation Reduction Act of 2022 and $4 billion in loan commitment authority will make HUD-assisted multifamily housing more energy efficient, cut greenhouse gas emissions, and improve climate resiliency. The U.S. Department of Housing and Urban Development (HUD) today will announce the availability of new funding through the Green and Resilient Retrofit Program (GRRP) to…
EDA: $1.3 Million Invested for Infrastructure Upgrades to Support Business Expansion and Job Growth in Lexington, NC
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to the city of Lexington, North Carolina, for infrastructure improvements to support business expansion and job creation. This grant will provide upgraded natural gas capacity at an industrial site necessary for the expansion of a…
EDA: $729,560 Invested to Boost Minority-Owned Business Growth in Mobile, AL
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $729,560 grant to Vivian’s Door, Mobile, Alabama, to provide technical assistance to minority-owned and distressed local businesses. This grant will support the Vivian’s Door Initiative to continue to build the capacity of small business owners, with a focus on marginalized and underserved…
HUD: $382 Million Allocated to Help States Produce Affordable Housing
Housing Trust Fund Allocations will increase and preserve the supply of decent, safe, and sanitary affordable housing for extremely low- and very low-income households Today, the U.S. Department of Housing and Urban Development (HUD) allocated $382 million through the nation’s Housing Trust Fund (see list of state allocations below). The Housing Trust Fund (HTF) is an affordable housing…
EDA: $3.6 Million Invested for Infrastructure Improvements to Support Business Growth in Georgetown County, SC
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $3.6 million grant to Georgetown County, South Carolina, for infrastructure improvements to support business growth and job creation. This project will provide site upgrades at Georgetown County Airport necessary for the development of two commercial hangars, including updated…
EDA: $4.3 Million Invested to Boost Business Growth and Workforce Development in Arkansas
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is investing $4.3 million in the state of Arkansas to make critical infrastructure improvements needed to support business growth and workforce development. The EDA investments announced today are: Pulaski County will receive a $3 million EDA grant to extend rail service…
CDFI Fund: Updated FAQ Posted for BEA Program Applicants
The Community Development Financial Institutions Fund (CDFI Fund) has posted on its website a revised Supplemental Guidance and Frequently Asked Questions (FAQs) document and Application Guidance document related to the fiscal year (FY) 2023 Bank Enterprise Award Program (BEA Program) Application round. Revised information is highlighted in green in these documents. The updates to these…