New Federal Grants for Community Economic Project Planning and Development.
This law authorizes the Secretary of Commerce to provide grants for the initial planning stages of community development projects. This funding covers essential preparatory work like feasibility studies, environmental assessments, and securing permits, making it easier for local entities to move forward with major investments. The goal is to boost local economies and infrastructure by supporting robust project preparation, particularly in areas with limited organizational capacity.
Key points
Establishes new federal grants specifically for predevelopment activities of economic projects (e.g., market studies, permitting, technical assistance).
Aids communities with low organizational capacity by potentially waiving certain application requirements, promoting equitable access to development funds.
Funding supports crucial planning steps such as community asset mapping, training, and organizational capacity building.
Expired
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