HUD: Nonprofit Bidders Successfully Purchased More Than 800 Mortgage Notes through HUD-Held Vacant Loan Sale
Competitive bid sale provided priority bidding on 50 percent of mortgage notes in multi-loan pools by non-profit organizations and units of state and local government. The U.S. Department of Housing and Urban Development’s Office of Asset Sales announced on Thursday that 23 mission-driven non-profit organizations successfully participated – and 11 were awarded pools – in its…
SBA: $1.1 Million in Awards Announced to Support Native American Entrepreneurs
The U.S. Small Business Administration (SBA) announced the awardees of $1.1 million in grants and contracts to promote the development, success, and long-term sustainability of Native American-owned businesses. “Native-owned small businesses are vital to our shared economic future, and the SBA is committed to engaging and supporting them. The $1.1 million in awards will provide a boost…
EDA: Finalists for $1 Billion “Build Back Better Regional Challenge”
60 Regional Coalitions will Each Compete for up to $100 Million in American Rescue Plan Funding to Rebuild America’s Communities U.S. Secretary of Commerce Gina M. Raimondo today announced the 60 finalists for the U.S. Economic Development Administration’s (EDA) $1 billion “Build Back Better Regional Challenge” – the marquee of EDA’s American Rescue Plan programs – that…
OCC: Acting Comptroller Kicks Off DC REACh
Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, and bankers to launch DC REACh, thereby expanding the OCC’s Project REACh efforts to Washington, D.C. The OCC launched Project REACh, or Roundtable for Economic Access and Change, to bring together leaders from the banking industry, civil rights organizations, business, and…
FEMA: President Biden Approves Emergency Declaration for Kentucky
FEMA announced that federal disaster assistance has been made available to the Commonwealth of Kentucky to supplement state and local recovery efforts in the areas affected by severe storms, straight-line winds, flooding and tornadoes beginning Dec. 10, 2021 and continuing. The President’s action authorizes FEMA to coordinate all disaster relief efforts to alleviate the hardship and…
OCC: Improved Mortgage Performance Reported in Third Quarter 2021
The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system improved during the third quarter of 2021. The OCC Mortgage Metrics Report, Third Quarter 2021 showed that 95.6 percent of mortgages included in the report were current and performing at the end of the third quarter…
Census Bureau: Small Business Pulse Survey Phase 7 Weekly Data Released
The U.S. Census Bureau today released new data from Phase 7 of the Small Business Pulse Survey (SBPS), which measures the effect of changing business conditions during the coronavirus pandemic, as well as other major events such as hurricanes on our nation’s small businesses. SBPS complements existing Census Bureau data by providing detailed, near real-time information on…
EDA: $3 Million Invested to Support Growth of Aviation Technology Cluster in Cape May County, NJ
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the County of Cape May, New Jersey, for construction of a new, multi-tenant building at the Cape May County Airport’s Hangars Technology Park. This project will provide a 16,000-square-foot facility to attract…
EDA: $3.3 Million in CARES Act Recovery Assistance Invested to Support Manufacturing and Job Creation on the Fort Apache Indian Reservation
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $3.3 million CARES Act Recovery Assistance grant to the White Mountain Apache Community Development Corporation, Pinetop, Arizona, to improve the White Mountain Apache Timber Company (WMATCO) sawmill in Whiteriver. This project will support tribal entrepreneurship, diversify the local economy, and create jobs….
EDA: $1.6 Million Invested for Wastewater Treatment Upgrades to Service Expanding Microsoft Data Center Campus in Boydton, VA
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 Boydton, Virginia, to upgrade the town wastewater treatment plant to service an expanding Microsoft data center campus and other business needs. This EDA project will provide the wastewater infrastructure…