Community Economic Development projects
Description
The Community Economic Development program supports projects that provide business development opportunities, create employment for individuals with low incomes and help low-income individuals overcome barriers to self-sufficiency. Projects must support a service area with unemployment and poverty rates that are at or above the state or national levels.
Funds may be used for construction or non-construction projects.
Eligibility
Eligible applicants must meet the following conditions:
- Applicant must be a private, nonprofit CDC with 501(c)(3) status
- Applicant must have articles of incorporation or bylaws demonstrating that the CDC has a principal purpose of planning, developing, or managing of low-income housing or community economic development activities
- The board of directors must have representation from each of the following: community residents, business leaders and civic leaders
Role In Creative Placemaking
This program could provide support for creative economy businesses to launch, relocate, renovate or expand in areas with high poverty and unemployment.
Match
None
Role in Creative Placemaking
This section represents our attempt to capture how this specific funding opportunity might fit into a placemaking initiative.
Eligibility
Who can apply? Eligibility is often limited, but in partnership with other entities you may identify an access point, such as subgrant opportunities. This information can help you determine which potential partners in your community might be able to access the funds.
Previous Projects/Grantees
These examples show how these funds have been used for creative or placemaking endeavors in the past, the types of organizations that have successfully accessed the funds and/or the types of activities for which the funds can be used.
Max Award
Maximum funding amounts can vary from year to year. We have provided the most recent information available. Where available, we also include a median or a range in cases in which the maximum is not typical of an average award.
Match Requirement
Most federal programs require some form of cost sharing. This is expressed differently for different agencies and programs. Sometimes a direct 1:1 match is specified. Other times, the application will state the maximum percentage of a project cost that the funding award can cover. We include this information, where available, in order to give you a sense of what to expect when applying for a particular funding program.
Compliance
Most federal funding programs will require financial and progress reports at least annually, along with a final report. We consider this to be a "moderate" compliance burden. Where a higher degree of data collection and reporting is indicated, we convey that information with a "substantial" rating.