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Does anyone use CDBG funds as match for IDAs?

April 26, 2017cdbg funds idas

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Does anyone use CDBG funds as match for IDAs?

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A few states have chosen to use their CDBG funds for IDAs. While federal law does not specifically authorize the use of CDBG funds for IDAs, the law does not prohibit it either. In North Carolina for example, $250,000 in Small Cities CDBG funds are being used for a four-site, two-year homeownership IDA demonstration project. Alternatively, CDBG funding can be used for microenterprise development projects (to learn more about this, check out our publication Community Development Block Grant Funding for Microenterprise Development).