WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro, Detroit Mayor Mike Duggan, U.S. Senators Debbie Stabenow and Gary C. Peters, and Congressman John Conyers, Jr., announced the allocation of $8.9 million from the Community Development Block Grant Declared Disaster Recovery Fund (DDR) to the City of Detroit. The funds will help Detroit become better prepared for future floods and other natural disasters, and assist with planning and implementation costs associated with resilient projects in the Brightmoor, Mt. Elliot and McDougall-Hunt neighborhoods, stemming from August 2014 flooding damage.
WASHINGTON – The U.S. Small Business Administration’s (SBA) announced that it is seeking grant proposals to award up to $700,000 in grant funding for projects that promote the development of innovative and successful Native American firms that are eligible for assistance under the SBA’s 7(j) Management and Technical Assistance Program.
The SBA expects to award three to seven grants to provide funding opportunities for Native American Micro Enterprise Business Services.
WASHINGTON: In a long awaited announcement several months late, the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) announced more than $3.5 billion in New Markets Tax Credit awards aimed at stimulating investment and economic growth in low-income urban neighborhoods and rural communities nationwide. A total of 76 organizations (Allocatees) across the country will receive tax credit allocation authority under the 2014 round of the New Markets Tax Credit Program.