EDA: $1.5 Million in CARES Act Recovery Assistance Invested to Expand Broadband Access Across New Mexico
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million CARES Act Recovery Assistance grant to the New Mexico Department of Information Technology, Santa Fe, New Mexico, to provide technical assistance for state government entities seeking to expand broadband infrastructure and services in response to…
CDFI Fund: CY 2020 Round of New Markets Tax Credit Program Opened
Increased Allocation of $5 Billion to be made Available this Round The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2020 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is providing the NOAA…
HUD: White House Opportunity and Revitalization Council Delivers Report to President Trump
Report Outlines Best Practices and Features Examples of Community Revitalization Occurring Across the Nation in Opportunity Zones Dr. Ben Carson, Secretary of the U.S. Department of Housing and Urban Development and Chairman of the White House Opportunity and Revitalization Council (Council), delivered a report this month to President Donald J. Trump outlining Opportunity Zone best practices and…
HUD: $130 Million Awarded to Revitalize Four Neighborhoods
Federal investments expected to attract more than a $1.5 billion in additional funding for neighborhood reinvestment Today, the U.S. Department of Housing and Urban Development (HUD) announced four communities across the country will receive a combined $130 million to redevelop severely distressed public housing and to revitalize surrounding neighborhoods. Provided through HUD’s Choice Neighborhoods Initiative,…
EDA: $4.5 Million Invested to Convert Former Naval Station Roosevelt Roads to Commercial Use in Puerto Rico
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $4.5 million grant to the Local Redevelopment Authority for Roosevelt Roads, San Juan, Puerto Rico, to rehabilitate a building and make other infrastructure improvements on former Naval Station Roosevelt Roads. The EDA grant will support early-stage businesses…
Federal Reserve: “Revitalize or Stabilize”: Does Community Development Financing Work?
Daniel Ringo Abstract: Banks in the United States originate $100 billion in community development loans every year and hold a similar amount of community development investments on their balance sheets. A number of federal place-based policies encourage the provision of these loans and investments to promote growth, employment and the availability of affordable housing to…
HUD: Opportunity and Revitalization Council Report Issued
During the North Carolina “Opportunity Now” Summit, U.S. Department of Housing and Urban Development Secretary Ben Carson issued a report to the President on behalf of the White House Opportunity and Revitalization Council (“Council”), of which Secretary Carson is the Chair. This report includes 180 action items that have already been undertaken by the Council…