EDA: $10.1 Million Invested in WV to Support Local Strategies Including Opportunity Zones
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is investing $10.1 million in the state of West Virginia to protect businesses from flooding, spur growth in a critical industry sector, boost workforce training efforts, and provide infrastructure needed to support businesses, including those in Opportunity Zones. The EDA…
Census Bureau: Statement of Delivering a Complete and Accurate 2020 Census Count
The U.S. Census Bureau continues to evaluate its operational plans to collect and process 2020 Census data. Today, we are announcing updates to our plan that will include enumerator awards and the hiring of more employees to accelerate the completion of data collection and apportionment counts by our statutory deadline of December 31, 2020, as…
HUD: Over $74 Million in Grants Awarded to Support Affordable Rental Housing for Extremely Low-Income Persons with Disabilities
The U.S. Department of Housing and Urban Development today announced the award of over $74 million in grants to 12 state housing finance agencies to support affordable rental housing for extremely low-income persons with disabilities. The awards will support up to five years of rental assistance for approximately 2,400 units of housing in buildings participating…
FFIEC: Joint Statement on Additional Loan Accomodations Related to COVID-19
This letter announces that the Federal Reserve and the other Federal Financial Institutions Examination Council (FFIEC) members1 have issued the attached Joint Statement on Additional Loan Accommodations Related to COVID-19. This statement discusses risk management principles relevant to institutions that work with their borrowers as loans near the end of initial loan accommodation periods related to COVID-19. The statement includes…
FEMA: President Trump Approves Emergency Disaster Declaration for North Carolina
FEMA announced federal disaster assistance has been made available to the state of North Carolina to supplement state and tribal response efforts in the areas affected by Hurricane Isaias from July 31, 2020 and continuing. Federal funding is available to the state, eligible local governments and certain private nonprofit organizations on a cost-sharing basis for…
SBA: Readout from Roundtable Discussion with Minority Depository Institutions
On July 30, 2020, U.S. Small Business Administration Administrator Jovita Carranza, Deputy Secretary of the Treasury Justin Muzinich, U.S. and other senior Treasury and SBA officials participated in a roundtable discussion with National Bankers Association Chairman Kenneth Kelly and executives from several minority depository institutions (MDIs). The discussion focused on the MDIs’ experiences as lenders…
FEMA: President Trump Approves Emergency Disaster Declaration for Florida
FEMA announced federal disaster assistance has been made available to the state of Florida to supplement the state’s response efforts in the areas affected by Hurricane Isaias from July 31, 2020 and continuing. Federal funding is available to the state, eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency protective…
EDA: Nearly $145 Million in CARES Act Funding Invested to Support Recovery from Coronavirus Pandemic
The U.S. Department of Commerce’s Economic Development (EDA) administration has awarded over $10 Million in CARES Act Funding to support economic development and economic recovery in response to the coronavirus pandemic. Investments include: July 30, 2020 – U.S. Department of Commerce Invests $7.8 Million in CARES Act Funding to Boost Capacity of Universities Across Nation to…
FHFA: Temporary Policy Allowing Purchase of Qualified Loans in Forbearance Extended
August 31, 2020 is new expiration date To support homeowners and mortgage lenders, the Federal Housing Finance Agency (FHFA) approved an extension of the temporary policy that allows for the purchase of certain single-family mortgages in forbearance that meet specific eligibility criteria set by Fannie Mae and Freddie Mac (the Enterprises). The policy is extended…
EDA: $850,000 Invested to Make Critical Water Infrastructure Improvements in Northeast Texas Opportunity Zone
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $850,000 grant to the city of Hooks, Texas, to make critical wastewater infrastructure improvements needed to support business development and economic growth in a Tax Cuts and Jobs Act Opportunity Zone. The EDA grant project will be matched with $212,500 in local funds and…