Regulacje i polityka gospodarcza · 07/12/1994

Funding Availability (NOFA) and Program Guidelines for the Economic Development Initiative (EDI); Notice DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

This NOFA announces the availability of funds for grants under Section 108(q) of the Housing and Community Development Act of 1974, as amended. HUD reserves the right to award grants under this NOFA up to the maximum amount authorized by law. As of the date of this NOFA and subject to funding availability, HUD intends to award up to $300 million in EDI funds. HUD may award in excess of $300 million if more funds become available. The Secretary invites applications from specific communities which qualify under Section II.(C) of this NOFA. In addition, EDI grants must be used in connection with activities eligible for assistance and assisted under the HUD Section 108 loan guarantee program (42 U.S.C. 5308)--to enhance the security of the Section 108 guaranteed loan or to improve the feasibility of proposed Section 108 projects through techniques such as interest rate subsidies, loan loss reserves, etc. This NOFA sets out program guidelines that will govern the application, application review, and award process for EDI grants under this NOFA.