Download - ECONOMIC DEVELOPMENT September 13, 2004
![Page 1: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/1.jpg)
ECONOMIC DEVELOPMENTSeptember 13, 2004
![Page 2: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/2.jpg)
CDBG DISBURSEMENTS FOR ECONOMIC DEVELOPMENT
STATE TOTAL % of Total ENT. TOTAL % of Total
FY 00 121,564,217 19.3% 277,321,473 7.8%
FY 01 206,312,786 16.9% 282,829,616 7.8%
FY 02 190,420,527 15.1% 275,409,262 7.6%
FY 03 195,046,668 14.9% 237,201,542 7.1%
![Page 3: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/3.jpg)
ECONOMIC DEVELOPMENT CATEGORIES
REHABILITATION:PUBLICLY OR PRIVATELY OWNED COMMERCIAL/INDUSTRIAL
COMMERCIAL/INDUSTRIAL LAND ACQUISITION/DISPOSITION
COMMERCIAL/INDUSTRIAL INFRASTRUCTURE DEVELOPMENT
COMMERCIAL/INDUSTRIAL BUILDING ACQUSITION, CONSTRUCTION, REHABILITATION
OTHER COMMERCIAL/INDUSTRIAL IMPROVEMENTS
ED DIRECT: DIRECT FINANCIAL ASSISTANCE TO FOR-PROFIT BUSINESS
ED DIRECT: TECHNICAL ASSISTANCE
MICRO-ENTERPRISE ASSISTANCE
![Page 4: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/4.jpg)
PUBLIC BENEFIT REQUIREMENTS Apply to special economic
development activities Certain public improvements
![Page 5: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/5.jpg)
PUBLIC BENEFIT STANDARDS Jobs
$50,000/individual$35,000/aggregate
Services to low/mod$1,000/individual$350/aggregate
Exception from aggregate standards for certain activities
![Page 6: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/6.jpg)
NATIONAL OBJECTIVES
LOW/MOD BENEFIT
SLUM/BLIGHT
URGENT NEED
Area Benefit Limited Clientele Housing Jobs Area
Urban Renewal Spot
![Page 7: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/7.jpg)
“CROSS CUTTING” REQUIREMENTSExamples: Davis-Bacon Environmental review
![Page 8: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/8.jpg)
SECTION 108 LOAN GUARANTEE PROGRAM ADMINISTERED AS PART OF CDBG
PROGRAM
![Page 9: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/9.jpg)
ELIGIBLE APPLICANTS
CDBG entitlement recipientsCDBG entitlement recipients Metropolitan citiesMetropolitan cities Urban countiesUrban counties
State-assisted small citiesState-assisted small cities
![Page 10: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/10.jpg)
MAXIMUM AMOUNT
5 TIMES CDBG Less: Outstanding Amounts
![Page 11: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/11.jpg)
LOAN TERMS
Up to 20 year term Variable/Fixed rate Collateral:
Pledge of CDBG fundsOther
![Page 12: ECONOMIC DEVELOPMENT September 13, 2004](https://reader035.vdocument.in/reader035/viewer/2022062520/56815da5550346895dcbd498/html5/thumbnails/12.jpg)
THE SECTION 108 GUARANTEE PROGRAM
HUD
GuaranteePledge of CDBG
Funds
Guarantee
Locality
Investors
Interim Lender