| Program
Name: Community Development Block Grant Loan Guarantee |
Alternate
Name: Section 108 |
| Purpose:
To
provide communities with a source of financing for economic development,
housing rehabilitation, public facilities, and large scale physical development
projects. |
| Eligible
Applicants: Units of Government |
| Eligible
Activites: Proceeds from the sale of the locality's obligations are
used to finance housing opportunities, acquire real property, improve and
rehabilitate publicly owned or acquired buildings, to finance housing opportunities
and commercial or industrial development. |
| Form
of Assistance: Federal guarantees for obligations issued by units of
general local govern |
Funding
Cycles:
Ongoing |
Deadline
Date: Applications accepted continuously. |
Funding
Organization:
US
Department of Housing & Urban Development |
Contact
Information:
Financial
Management Division, CPD
451
7th St. SW
Washington,
DC 20410 |
Phone
Number:
(716)
551-5755 |
Web Address:
www.hud.gov |
How
To Apply:
Submit
application to appropriate HUD Area Office. |
| Comments:
Loans
may be for term up to 20 years. Maximum funding is the average of grants
made under small cities program to local governments in the previous fiscal
year. Additional contact info: Mr. Michael Merrill, CPD Director, Dept
of HUD, 465 Main St., Lafayette Ct., Buffalo, NY 14203 |
| Statute
or Regulations: See review criteria at 24CFR 570.704, Subpart M. |
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