HUD: FHA Supports Affordable Housing with Financing of $8.2 Million Mortgage for Senior Housing in Sacramento, CA
Insurance endorsement provided by FHA supports substantial rehabilitation of 32 units serving 55+ residents at 30%, 45%, 50%, and 60% of the area median income. The Federal Housing Administration (FHA) announced on May 13, that it has closed on a $8.2 million mortgage insured under FHA’s 221(d)(4) Substantial Rehabilitation program for Gloria Drive Apartments in…
HUD: Over $1.4 Million in Housing Assistance Awarded for Foster Youth During National Foster Care Month
The U.S. Department of Housing and Urban Development (HUD) announced over $1.4 million in housing assistance through the Foster Youth to Independence (FYI) initiative for youth transitioning out of foster care who are experiencing or at risk of experiencing homelessness. May marks National Foster Care Month, a time to renew the commitment to ensuring all…
OCC: Acting Comptroller Discusses Expanding Diversity and Inclusion, Minority Homeownership
Acting Comptroller of the Currency Michael J. Hsu today discussed the Office of the Comptroller of the Currrency’s efforts to reduce barriers to homeownership and promote financial inclusion in remarks at the Asian Real Estate Association of America Diversity and Fair Housing Summit. The Acting Comptroller highlighted the work of Project REACh to support affordable homeownership, expand…
FHFA: Membership in the Network of Central Banks and Supervisors for Greening the Financial System Announced
The Federal Housing Finance Agency (FHFA) today announced its membership in the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). Recognizing the increasing risk to property from climate change, including severe structural damage caused by hurricanes, tornadoes, floods, droughts and wildfires, FHFA Acting Director Sandra L. Thompson issued a statement in December 2021 that…
USDA and EDA Launch Resource Guide to Boost Economic Development in Rural Communities
U.S. Department of Agriculture (USDA) Rural Development Under Secretary Xochitl Torres Small and U.S. Economic Development Administration (EDA) Assistant Secretary Alejandra Y. Castillo today released a joint resource guide to help community organizations access USDA and EDA resources to build strategies to boost economic development in rural America. “America’s rural communities are critical to the success of…
EDA: $7 Million Invested to Make Critical Improvements to Maritime Infrastructure in Port Townsend, WA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $7 million grant to the Port of Port Townsend, Washington, to fund the replacement of the Point Hudson Breakwaters. This project will restore storm-damaged maritime infrastructure needed to develop the economic resilience of the region to…
EDA: $2 Million Invested to Support Innovation and Technology Entreprenerus in Akron, OH
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the city of Akron, Ohio, to expand and renovate its Bounce Innovation Hub, a business incubator facility. This investment will support more than 60 start-up businesses and entrepreneurs at the incubator through…
EDA: $1.6 Million Invested to Boost Business and Job Growth in Goldsby, OK
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the town of Goldsby, Oklahoma, to build a wastewater infrastructure system. This grant will provide a sanitary sewer system to support industry and business development in the region. This EDA project will…
EDA: $1.4 Million Invested to Support Entrepreneurial Growth in Central Michigan
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.4 million grant to Central Michigan University, Mount Pleasant, Michigan, for renovations to the Central Michigan University Research Corporation incubator and accelerator. This investment will support local entrepreneurs through office renovation and upgrades to provide a…
EDA: Over $49 Million in American Rescue Plan and CARES Act Recovery Assistance Invested
In the last week, the following grants were made under the American Rescue Plan Funds program or the CARES Act Recovery Assistance Program: May 10, 2022 – U.S. Department of Commerce Invests $3.9 Million in American Rescue Plan Funds to Support Business and Job Growth in Texas May 10, 2022 – U.S. Department of Commerce Invests $5…