SBA: Supplemental Grant Applications for Shuttered Venue Operators Grant Awardees Opened
Awards Expected to Begin Going out within Two Weeks Today, the U.S. Small Business Administration announced it will begin sending invitations for supplemental awards for the Shuttered Venue Operators Grant program. Per the Economic Aid to Hard-Hit Small Businesses, Non-profits and Venues Act, SVOG supplemental awards are to be provided to those who received an initial grant and have illustrated…
SBA: New Milestone Reached with $7.5 Billion in Shuttered Venue Operators Grants Awarded to over 10,000 Venues
Unique program distributes grants to venues in the nation’s 50 states and several U.S. territories directly impacted by COVID-19 Today, the U.S. Small Business Administration reached a new milestone of successfully awarding over $7.5 billion in Shuttered Venue Operators Grants (SVOGs) to more than 10,000 hard-hit live entertainment small businesses, nonprofits, and venues. The SVOG program is designed to…
EDA: $4.9 Million in CARES Act Recovery Assistance Invested to Support Kenosha Innovation Neighborhood Project in Kenosha, WI
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $4.9 million CARES Act Recovery Assistance grant to the city of Kenosha, Wisconsin, for road and sewer infrastructure improvements at the 107-acre Kenosha Innovation Neighborhood project. This EDA grant, to be matched with $7.4 million in…
SBA: Closure of Restaurant Revitalization Fund Program Announced
Over 100k restaurants were awarded $28.6 billion; Average award was $283K Today, U.S. Small Business Administration Administrator Isabel Guzman announces the closure of the Restaurant Revitalization Fund (RRF) program, signed into law by President Joe Biden as part of the American Rescue Plan. The program provided much needed economic aid to restaurants and other establishments struggling to make…
FDIC & Federal Reserve: List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies Released
The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation today announced the availability of the 2021 list of distressed or underserved nonmetropolitan middle-income geographies. These are geographic areas where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community development definition. Distressed nonmetropolitan…
Agencies Extend Favorable CRA Consideration for Revitalization Activities in Areas of Puerto Rico and the U.S. Virgin Islands Affected by Hurricane Maria
The federal bank regulatory agencies today announced they are extending the period for giving favorable consideration under Community Reinvestment Act (CRA) regulations to institutions located outside of Puerto Rico and the U.S. Virgin Islands, for bank activities that continue to help revitalize or stabilize these areas devastated by Hurricane Maria (the “Hurricane”). The agencies have…
HUD: $160 Million Awarded to Five Communities to Revitalize Housing, Invest in Neighborhoods
U.S. Housing and Urban Development (HUD) Secretary Marcia L. Fudge on Wednesday announced that five communities have received a combined $160 million to redevelop severely distressed housing and spur comprehensive revitalization under the federal Choice Neighborhoods Initiative. HUD has named Camden, New Jersey; Cleveland, Ohio; Detroit, Michigan; Fort Myers, Florida; and Lewiston, Maine as this…
CDFI Fund: Request for Information about NMTC Program Native Initiative Released
Today, the Community Development Financial Institutions Fund (CDFI Fund) released a Request for Information related to an upcoming procurement that is part of a broader effort to increase New Markets Tax Credit (NMTC) investment in Federal Indian Reservations, Off-Reservation Trust Lands, Hawaiian Home Lands, and Alaska Native Village Statistical Areas (NMTC Native Areas). Industry and subject-matter experts…
SBA: Last Call for Restaurant Revitalization Fund Applications
Administrator Isabella Casillas Guzman announced that eligible eating establishments have until Monday, May 24, 8 p.m. ET, to submit applications to the Restaurant Revitalization Fund. “If our nation’s food and beverage industry is going to fully recover, we must ensure as many of the hardest-hit businesses get the economic aid they need,” said Administrator Guzman….
HUD: $51 Million Awarded to Clean Up Lead Hazards in Public Housing
Funding to identify and control potentially dangerous lead in thousands of homes with young children The U.S. Department of Housing and Urban Development (HUD) today awarded nearly $51.4 million to 25 Public Housing Agencies (PHAs) in 19 states to identify and reduce lead-based paint hazards in thousands of older public housing units. Provided through HUD’s…