34 U.S.C. § 12201 — Community development corporation improvement grants

FEDERAL · 34 U.S.C. · Chapter 121

Community development corporation improvement grants

Current through Pub. L. 119-102

Title 34 — Crime Control and Law Enforcement·Ch. 121 — VIOLENT CRIME CONTROL AND LAW ENFORCEMENT·Subch. II·Pt. E

(a)Purpose It is the purpose of this section to provide assistance to community development corporations to upgrade the management and operating capacity of such corporations and to enhance the resources available to enable such corporations to increase their community economic development activities.

(b)Skill enhancement grants

(1)In general The Secretary shall award grants to community development corporations to enable such corporations to attain or enhance the business management and development skills of the individuals that manage such corporations to enable such corporations to seek the public and private resources necessary to develop community economic development projects.

(2)Use of funds A recipient of a grant under paragraph (1) may use amounts received under such grant— (A

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(a) Purpose
It is the purpose of this section to provide assistance to community development corporations to upgrade the management and operating capacity of such corporations and to enhance the resources available to enable such corporations to increase their community economic development activities.
(b) Skill enhancement grants
(1) In general
The Secretary shall award grants to community development corporations to enable such corporations to attain or enhance the business management and development skills of the individuals that manage such corporations to enable such corporations to seek the public and private resources necessary to develop community economic development projects.
(2) Use of funds
A recipient of a grant under paragraph (1) may use amounts received under such grant—
(A) to acquire training and technical assistance from agencies or institutions that have extensive experience in the development and management of low-income community economic development projects; or
(B) to acquire such assistance from other highly successful community development corporations.
(c) Operating grants
(1) In general
The Secretary shall award grants to community development corporations to enable such corporations to support an administrative capacity for the planning, development, and management of low-income community economic development projects.
(2) Use of funds
A recipient of a grant under paragraph (1) may use amounts received under such grant—
(A) to conduct evaluations of the feasibility of potential low-income community economic development projects that address identified needs in the low-income community and that conform to those projects and activities permitted under subpart 1; 1
(B) to develop a business plan related to such a potential project; or
(C) to mobilize resources to be contributed to a planned low-income community economic development project or strategy.
(d) Applications
A community development corporation that desires to receive a grant under this section shall prepare and submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require.
(e) Amount available for community development corporation
Amounts provided under this section to a community development corporation shall not exceed $75,000 per year. Such corporations may apply for grants under this section for up to 3 consecutive years, except that such corporations shall be required to submit a new application for each grant for which such corporation desires to receive and compete on the basis of such applications in the selection process.

34 U.S.C. § 12201 (Community development corporation improvement grants) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 103–322, title III, §31121, Sept. 13, 1994, 108 Stat. 1885.)

Editorial Notes

Editorial Notes

References in Text
Subpart 1, referred to in subsec. (c)(2)(A), was in the original "subtitle A", and was translated as reading "chapter 1", meaning chapter 1 of subtitle K of title III of Pub. L. 103–322, to reflect the probable intent of Congress.

Codification
Section was formerly classified to section 13841 of Title 42, The Public Health and Welfare, prior to editorial reclassification and renumbering as this section.