What main economic development programs have been used for brownfield redevelopment projects?
A. Community Development Block Grants (CDBG). The CDBG program provides annual grants on a formula basis to be used for a wide range of community development activities directed toward neighborhood revitalization, development, and improved community facilities and services. Larger communities, called entitlement communities, receive CDBGs each year directly from the US Department of Housing and Urban Development. Smaller communities can compete for CDBG money through the Community Development Assistance Program (CDAP) administered by the Illinois Department of Commerce and Economic Opportunity. Some local governments have used portions of their CDBG money for brownfield redevelopment projects. B. Section 108 Loan Guarantees & Economic Development Initiative (EDI) Grants. The Section 108 loan guarantees, which are coupled with EDI grants, can provide entitlement communities with a source of financing for a variety of economic development projects. Section 108 is the loan guarantee provi
Related Questions
- Can Access to Home funds be used in conjunction with CDBG, HOME or other community development or economic development programs?
- What main economic development programs have been used for brownfield redevelopment projects?
- Can traditional economic development financing tools be used for brownfield projects?
