Federal Reserve: Speech by Governor Brainard on Modernizing and Strengthening CRA Regulations
Thank you for inviting me here today to take part in your Fall Leadership Meeting.1 We recognize that community banks play a vital role in the communities you serve. Your insights into local conditions and your long-standing customer relationships afford you a deep understanding of the needs and characteristics of the households and small businesses…
EDA: $2.6 Million Invested to Make Water Infrastructure Improvements in Kenova, WV
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 Kenova, West Virginia, to make water infrastructure improvements needed to spur business growth and economic development throughout the region. This EDA grant will be matched with $966,000 in local funds…
EDA: $2 Million Invested to Make Building Improvements Needed to Boost Business Growth in Woodward, OK
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 city of Woodward, Oklahoma, to make building renovations at the Woodward Industrial Airpark to attract and support businesses following devastating fires in 2018. The EDA grant will be matched with more than…
EDA: $1.8 Million Invested to Boost Growth at Five Points Business Park Near Opportunity Zone in Abilene, TX
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.8 million grant to the city of Abilene, Texas, to make roadway infrastructure improvements needed to support expansion efforts of manufacturers and businesses in the Five Points Business Park area. The EDA grant, to be located near…
EDA: $620,970 Invested to Support Growth of Manufacturing Sector in Pontotoc County, MS
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $620,970 grant to Pontotoc County, Mississippi, to make water infrastructure improvements at the Pontotoc County Industrial Park, to support the expansion and growth of manufacturing businesses in the region. This EDA grant, to be matched with $320,970 in local investment and $300,000…
HUD: “Mustard Seed Series” Virtual Workshops Launched for Faith Leaders and Congregations
Events will feature testimonies from faith leaders who have launched housing initiatives for homeless neighbors U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today launched a series of virtual workshops for faith congregations entitled, “The Mustard Seed Series”. The virtual events will feature faith organizations that have successfully created affordable housing, reduced…
Federal Reserve: Several Measures Extended Another Quarter to Ensure High Level of Capital Resilience
Due to the continued economic uncertainty from the coronavirus response, the Federal Reserve Board on Wednesday announced it will extend for an additional quarter several measures to ensure that large banks maintain a high level of capital resilience. For the fourth quarter of this year, large banks—those with more than $100 billion in total assets—will…
CDFI Fund: Treasury Guarantees $100 Million in CDFI Bond Funding
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the approval of a $100 million guarantee under the fiscal year 2020 round of the Community Development Financial Institutions (CDFI) Bond Guarantee Program. The guarantee will be issued to the Community Reinvestment Fund, USA on behalf of Clearinghouse Community Development…
EDA: $2 Million Invested to Construct Business Incubator to Support Entrepreneurial Development in Laurinburg, NC
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 Scotland County Economic Development Corporation, Laurinburg, North Carolina, to construct a new business incubator to provide workspace for startup companies and expanding industries. The EDA grant, to be matched with more than…
EDA: $444,009 Invested to Develop Strategic Plan for Main SpacePort Complex in Augusta, ME Opportunity Zone
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $444,009 grant to the Maine Space Grant Consortium, Augusta, Maine, to develop a strategic plan for the Maine SpacePort Complex. The project, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $148,489 in state funds and $111,442…