HUD: Millions in Rental and Housing Assistance for Veterans in Need Announced
HUD-VASH vouchers to help veterans at-risk of homelessness The U.S. Department of Housing and Urban Development (HUD) today announced it is awarding $46 million in rental assistance and housing vouchers to help veterans at risk of experiencing homelessness. The supportive housing assistance is provided through the HUD-Veterans Affairs Supportive Housing (HUD-VASH) Program, which combines rental…
FHFA: COVID-Related Loan Flexibilities Further Extended Until January 31st
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until January 31, 2021. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on December 31, 2020. Extended flexibilities include: Alternative appraisals on…
EDA: $2.6 Million Invested to Make Sewer Infrastructure Improvements in Dublin, GA Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.6 million grant to the city of Dublin, Georgia, to provide expanded and reliable sanitary sewer service to the Dublin-Laurens County South Industrial Park. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone,…
EDA: $2 Million Invested to Expand Business Incubator in Stateboro, GA Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the Downtown Statesboro Development Authority, Statesboro, Georgia, to boost business growth and resiliency efforts by expanding the City Center Business Incubator. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity…
EDA: $1.7 Million Invested to Create Broadband Network to Support Business Growth in Montgomery City, MO Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.7 million grant to Montgomery City, Missouri, to construct a broadband fiber network to serve local businesses. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $421,681 in local…
CFPB: Two Final Rules Issued to Promote Access to Responsible, Affordable Mortgage Credit
Today, the Consumer Financial Protection Bureau (Bureau) issued final rules related to qualified mortgage (QM) loans. Lenders are required under the law to determine that consumers have the ability to repay mortgage loans before lenders make those loans. Loans that meet legal standards for QM loans are presumed to be loans for which consumers have…
FEMA: President Trump Approves Major Disaster Declaration for Texas
FEMA announced that federal disaster assistance has been made available to the state of Texas to supplement state, tribal and local recovery efforts in the areas affected by Hurricane Laura from Aug. 23-27, 2020. Federal funding is available to the state, tribal, eligible local governments and certain private nonprofit organizations on a cost-sharing basis for…
EDA: $3.6 Million Invested to Make Water System Improvements in Springfield, KY
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3.6 million grant to the city of Springfield, Kentucky, to make water infrastructure improvements to boost the Springfield Water and Sewer Commission’s capacity to meet current and future needs of its residential, commercial, and industrial water customers…
CDFI Fund: Application Demand for 2020 Round of NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 208 applications under the 2020 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development Entities (CDEs) for…
SBA: Military Spouse Employment Partnership with the Defense Department Announced
On Dec. 9, 2020, the U.S. Small Business Administration will join the Department of Defense’s Military Spouse Employment Partnership (MSEP) for a virtual ceremony. The SBA is one of 85 new partners joining MSEP, bringing the total number of employers to 500. MSEP connects military spouses with hundreds of partner employers who commit to recruit, hire, promote and retain…