EDA: $1.7 Million Invested to Create Broadband Network to Support Business Growth in Montgomery City, MO Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.7 million grant to Montgomery City, Missouri, to construct a broadband fiber network to serve local businesses. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $421,681 in local…
CDFI Fund: Application Demand for 2020 Round of NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 208 applications under the 2020 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development Entities (CDEs) for…
EDA: $1.5 Million in CARES Act Recovery Assistance Invested to Expand Broadband Access Across New Mexico
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million CARES Act Recovery Assistance grant to the New Mexico Department of Information Technology, Santa Fe, New Mexico, to provide technical assistance for state government entities seeking to expand broadband infrastructure and services in response to…
CDFI Fund: CY 2020 Round of New Markets Tax Credit Program Opened
Increased Allocation of $5 Billion to be made Available this Round The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2020 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is providing the NOAA…
HUD: White House Opportunity and Revitalization Council Delivers Report to President Trump
Report Outlines Best Practices and Features Examples of Community Revitalization Occurring Across the Nation in Opportunity Zones Dr. Ben Carson, Secretary of the U.S. Department of Housing and Urban Development and Chairman of the White House Opportunity and Revitalization Council (Council), delivered a report this month to President Donald J. Trump outlining Opportunity Zone best practices and…
HUD: $130 Million Awarded to Revitalize Four Neighborhoods
Federal investments expected to attract more than a $1.5 billion in additional funding for neighborhood reinvestment Today, the U.S. Department of Housing and Urban Development (HUD) announced four communities across the country will receive a combined $130 million to redevelop severely distressed public housing and to revitalize surrounding neighborhoods. Provided through HUD’s Choice Neighborhoods Initiative,…
EDA: $4.5 Million Invested to Convert Former Naval Station Roosevelt Roads to Commercial Use in Puerto Rico
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $4.5 million grant to the Local Redevelopment Authority for Roosevelt Roads, San Juan, Puerto Rico, to rehabilitate a building and make other infrastructure improvements on former Naval Station Roosevelt Roads. The EDA grant will support early-stage businesses…