FDIC: Proposed Rule on Brokered Deposit Restrictions Issued
The Federal Deposit Insurance Corporation (FDIC) today issued a notice of proposed rulemaking (NPR) to modernize its brokered deposit regulations. The proposal would, among other things, modernize a regulatory framework built for a different era to remove regulatory disincentives to offering deposit accounts to customers through different channels. The proposal would establish a new framework…
EDA: $2 Million Invested to Make Critical Wastewater Infrastructure Improvements in Fort Fairfield, ME
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 Fort Fairfield Utilities District of Fort Fairfield, Maine to support the local business community by replacing the town’s existing 60-year-old wastewater treatment facility. The EDA grant will be matched with $4.4 million…
EDA: $1.6 Million Invested to Support Growth of Wood Products Sector in Clarke County, AL
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to Clarke County, Alabama to make infrastructure improvements at North Clark Industrial Park needed to support a new lumber mill operation. The EDA grant, to be matched with $1.1 million in local funds, is…
EDA: $1.6 Million Invested to Support Business Development and Disaster Efforts in South Carolina
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is investing $1.6 million in the state of South Carolina to stimulate private investment and help protect businesses from future severe weather events. The EDA grants, to be matched with $775,148 in state and local funds, are expected to create…
HUD: Nearly $200 Million Awarded for Affordable Housing in Native American Communities
Funds will help construct approximately 1,200 new housing units The U.S. Department of Housing and Urban Development yesterday announced nearly $200 million in grant awards to 52 Native American Tribes and Tribally Designated Housing Entities (TDHEs) across the Nation for new housing construction, housing rehabilitation, and critical infrastructure projects. HUD announced the grants during the…
HUD: $10 Million Awarded for the Development for 538 Affordable Homes
SHOP grant funding empowers non-profit partners to help 538 families and individuals become homeowners In an effort to help more working families become homeowners, the U.S. Department of Housing and Urban Development (HUD) today awarded $10 million in grants to four non-profit housing organizations, which will create at least 538 affordable homes for low-income families…
EDA: $1.2 Million Invested to Aid Redevelopment of Historic Rail Yards in Albuquerque, NM
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.2 million grant to the city of Albuquerque, New Mexico, to provide infrastructure improvements needed to aid the redevelopment of the city’s historic Rail Yards. The EDA grant, to be located near two Tax Cuts and Jobs Act designated Opportunity…
EDA: $2 Million Invested to Support Business Incubation and Workforce Training Efforts in Billings, MT 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 Big Sky Economic Development Authority of Billings, Montana, to renovate an existing building to house the Rock 31 Connect Build Grow business incubator. The EDA grant, to be located in a Tax Cuts and…
EDA: $1.6 Million Invested to Establish Business Revolving Loan Fund in Youngstown, OH
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the Mahoning Valley Economic Development Corporation (MVEDC) of Youngstown, Ohio, to establish a new Revolving Loan Fund (RLF) in support of small businesses and entrepreneurs. The EDA grant, to be located near a Tax…
HUD: More than $130 Million Awarded to Provide Affordable Housing to People with Disabilities
The U.S. Department of Housing and Urban Development (HUD) today awarded $131.3 million to 325 local public housing authorities across the country to provide affordable housing to approximately 15,363 additional non-elderly persons with disabilities. Secretary Ben Carson made the national announcement during a visit to Detroit, Michigan. The Detroit Housing Commission received $597,629 to serve…