Funding list for individuals, churches & non-profits rebuilding Gulf Coast

[intheflow]

I can't take any credit for compiling this list. It was put together by the Mississippi Center for Justice. But I wanted to get the info as widely distributed as possible. :hi:

I. SINGLE FAMILY HOMES

A. REPAIRS

1. HUD PROPERTY IMPROVEMENT LOAN INSURANCE (TITLE I)

The Rural Housing Programs provides a number of homeownership opportunities to rural Americans, as well as programs for home renovation and repair. RHP also makes financing available to elderly, disabled, or low-income rural residents of multi-unit housing buildings to ensure they are able to make rent payments. The following is a listing of RHP programs that might be of interest to individuals interested in buying or renovating a home.

Website: http://www.rurdev.usda.gov/rhs/common/indiv_intro.htm

2. HUD 203(K) REHABILITATION LOAN

The Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs. These programs operate through FHA-approved lending institutions, which submit applications to have the property appraised and have the buyer's credit approved. These lenders fund the mortgage loans, which the Department insures. HUD does not make direct loans to help people buy homes. The Section 203(k) program is the Department's primary program for the rehabilitation and repair of single-family properties. As such, it is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. Eligible Property: To be eligible, the property must be a one- to four-family dwelling that has been completed for at least one year. The number of units on the site must be acceptable according to the provisions of local zoning requirements. All newly constructed units must be attached to the existing dwelling. Cooperative units are not eligible. Homes that have been demolished, or will be razed as part of the rehabilitation work, are eligible provided some of the existing foundation system remains in place. In addition to typical home rehabilitation projects, this program can be used to convert a one-family dwelling to a two-, three-, or four-family dwelling. An existing multi-unit dwelling could be decreased to a one- to four-family unit. An existing house (or modular unit) on another site can be moved onto the mortgaged property; however, release of loan proceeds for the existing structure on the non-mortgaged property is not allowed until the new foundation has been properly inspected and the dwelling has been properly placed and secured to the new foundation. A 203(k) mortgage may be originated on a "mixed use" residential property provided: (1) The property has no greater than 25 percent (for a one story building); 33 percent (for a three story building); and 49 percent (for a two story building) of its floor area used for commercial (storefront) purposes; (2) the commercial use will not affect the health and safety of the occupants of the residential property; and (3) the rehabilitation funds will only be used for the residential functions of the dwelling and areas used to access the residential part of the property. How the Program Can Be Used: This program can be used to accomplish rehabilitation and/or improvement of an existing one-to-four unit dwelling in one of three ways:

· To purchase a dwelling and the land on which the dwelling is located and rehabilitate it.

· To purchase a dwelling on another site, move it onto a new foundation on the mortgaged property and rehabilitate it.

· To refinance existing indebtedness and rehabilitate such a dwelling.

To purchase a dwelling and the land on which the dwelling is located and rehabilitate it, and to refinance existing indebtedness and rehabilitate such a dwelling, the mortgage must be a first lien on the property and the loan proceeds (other than rehabilitation funds) must be available before the rehabilitation begins. To purchase a dwelling on another site, move it onto a new foundation and rehabilitate it, the mortgage must be a first lien on the property; however, loan proceeds for the moving of the house cannot be made available until the unit is attached to the new foundation.

http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm http://www.hud.gov/offices/hsg/sfh/203k/faqs203k.cfm

3. HUD PROPERTY IMPROVEMENT LOAN INSURANCE (TITLE 1)

Under Title I, HUD insures lenders against most losses on home improvement loans. Purpose: The Federal Housing Administration (FHA) makes it easier for consumers to obtain affordable home improvement loans by insuring loans made by private lenders to improve properties that meet certain requirements. "Lending institutions make loans from their own funds to eligible borrowers to finance these improvements." Type of Assistance: The Title I program insures loans to finance the light or moderate rehabilitation of properties, as well as the construction of nonresidential buildings on the property. This program may be used to insure such loans for up to 20 years on either single- or multifamily properties. The maximum loan amount is $25,000 for improving a single-family home or for improving or building a nonresidential structure. For improving a multifamily structure, the maximum loan amount is $12,000 per family unit, not to exceed a total of $60,000 for the structure. These are fixed-rate loans, for which lenders charge interest at market rates. The interest rates are not subsidized by HUD, although some communities participate in local housing rehabilitation programs that provide reduced-rate property improvement loans through Title I lenders. FHA insures private lenders against the risk of default for up to 90 percent of any single loan. The annual premium for this insurance is $1 per $100 of the amount advanced; although this fee may be charged to the borrower separately, it is sometimes covered by a higher interest charge. Eligible Customers: Eligible borrowers include the owner of the property to be improved, the person leasing the property (provided that the lease will extend at least 6 months beyond the date when the loan must be repaid), or someone purchasing the property under a land installment contract. Eligible Activities: Title I loans may be used to finance permanent property improvements that protect or improve the basic livability or utility of the property--including manufactured homes, single-family and multifamily homes, nonresidential structures, and the preservation of historic homes. The loans can also be used for fire safety equipment. Applications must be submitted to a Title I-approved lender. The HUD website provides a list of approved lenders.

4. See also, below, Loan Guarantee Program (Section 502)

5. HOME REPAIR LOAN AND GRANT PROGRAM (SECTION 504)

For very low income families who own homes in need of repair, the Home Repair Loan and Grant Program offers loans and grants for renovation. The Home Repair Program also provides funds to make a home accessible to someone with disabilities. Money may be provided, for example, to repair a leaking roof; to replace a wood stove with central heating; to construct a front-door ramp for someone using a wheelchair; or to replace an outhouse and pump with running water, a bathroom, and a waste disposal system. Homeowners 62 years and older are eligible for home improvement grants. Other low income families and individuals receive loans at a 1% interest rate directly from RHP. Rural Housing Repair and Rehabilitation Loans are loans funded directly by the Government.† These loans are available to very low-income rural residents who own and occupy a dwelling in need of repairs.† Funds are available for repairs to improve or modernize a home, or to remove health and safety hazards.† This loan is a 1% loan that may be repaid over a 20-year period. Purpose: The Very Low-Income Housing Repair program provides loans and grants to very low-income homeowners to repair, improve, or modernize their dwellings or to remove health and safety hazards. Eligibility: To obtain a loan, homeowner-occupants must be unable to obtain affordable credit elsewhere and must have very low incomes, defined as below 50 percent of the area median income. They must need to make repairs and improvements to make the dwelling more safe and sanitary or to remove health and safety hazards. Grants are only available to homeowners who are 62 years old or older and cannot repay a Section 504 loan. Terms: Loans of up to $20,000 and grants of up to $7,500 are available. Loans are for up to 20 years at 1 percent interest. A real estate mortgage and full title services are required for loans of $7,500 or more. Grants may be recaptured if the property is sold in less than 3 years. Grant funds may be used only to pay for repairs and improvements resulting in the removal of health and safety hazards. A grant/loan combination is made if the applicant can repay part of the cost. Loans and grants can be combined for up to $27,500 in assistance. Standards: Repaired properties do not need to meet other RHP code requirements, but the installation of water and waste systems and related fixtures must meet local health department requirements. Water supply and sewage disposal systems should normally meet RHP requirements. Not all the health and safety hazards in a home must be removed with Section 504 funds, provided that major health and safety hazards are removed. All work must meet local codes and standards. Approval: Rural Development should make a decision on a complete application within 30 to 60 days

http://www.rurdev.usda.gov/rhs/sfh/brief_repairloan.htm

6. MISSISSIPPI WEATHERIZATION ASSISTANCE PROGRAM

Weatherization Assistance Program (WAP) funds are used to improve the conditions of eligible low-income clients' homes. The program is designed to reduce home heating and cooling costs by improving energy efficiency and ensuring health and safety. Priority is given to low-income elderly and disabled individuals. Eligibility criteria: In order to qualify for this benefit program, you must be a resident of the State of Mississippi, your household's annual income before taxes must not exceed $11,638 if one person lives in the household; $15,613 if two people live in the household; $19,588 if three people live in the household; $23,563 if four people live in the household; $27,538 if five people live in the household; $31,513 if six people live in the household; $35,488 if seven people live in the household; and $39,463 if more than seven people live in the household. Managing organization: http://www.mississippi.gov How to apply: Applications are taken at Community Action Agencies or Human Resource Agencies. All (82) counties have application sites where clients can apply. If you do not know your local agency, you may call the Community Services Line toll-free number: 800-421-0762 Or locally: 601-359-4768

http://www.govbenefits.gov/govbenefits/benefits/report.jhtml?dispatch=state&bid=1863&state=MS

7. MISSISSIPPI LOW INCOME HOME ENERGY ASSISTANCE PROGRAM

LIHEAP provides financial assistance to eligible households to help pay the cost of home energy bills and other energy related services. Benefits vary depending on the intensity level and are based on the rating tool. Households may qualify for regular LIHEAP assistance and/or the Energy Crisis (emergency) Intervention Program (ECIP) for natural gas, wood, electricity, liquid petroleum propane/butane gas, and other energy related services. The allocation of funds to subgrantees is based on the percentage of poor households in each county compared with the state's poverty level according to the current census data. Eligibility criteria In order to qualify for this benefit program, you must be a resident of the State of Mississippi, you must need financial assistance for home energy costs and your household's annual income before taxes must not exceed $13,965 if one person lives in the household; $18,735 if two people live in the household; $23,505 if three people live in the household; $28,275 if four people live in the household; $33,045 if five people live in the household; $37,815 if six people live in the household, $42,585 if seven people live in the household; or $47,355 if eight people live in the household. For larger households, add $3,180 for each additional person in the home. Managing organization http://www.mississippi.gov Program contact information & web resources For more information about this program, please visit: www.mdhs.state.ms.us/cs_info.html

http://www.govbenefits.gov/govbenefits/benefits/report.jhtml?dispatch=state&bid=1537&state=MS www.mdhs.state.ms.us/cs_info.html

B. NEW HOMES

1. AMERICAN DREAM DOWNPAYMENT INITIATIVE

The American Dream Downpayment Initiative (ADDI) was signed into law on December 16, 2003. The American Dream Downpayment Assistance Act authorizes up to $200 million annually for fiscal years 2004 - 2007. ADDI will provide funds to all fifty states and to local participating jurisdictions that have a population of at least 150,000 or will receive an allocation of at least $50,000 under the ADDI formula. ADDI will be administered as a part of the HOME Investment Partnerships Program, a formula grant program. Purpose: ADDI aims to increase the home ownership rate, especially among lower income and minority households, and to revitalize and stabilize communities. ADDI will help first-time homebuyers with the biggest hurdle to homeownership: downpayment and closing costs. The program was created to assist low-income first-time homebuyers in purchasing single-family homes by providing funds for downpayment, closing costs, and rehabilitation carried out in conjunction with the assisted home purchase. Type of Assistance: ADDI will provide downpayment, closing costs, and rehabilitation assistance to eligible individuals. The amount of ADDI assistance provided may not exceed $10,000 or six percent of the purchase price of the home, whichever is greater. The rehabilitation must be completed within one year of the home purchase. Rehabilitation may include, but is not limited to, the reduction of lead paint hazards and the remediation of other home health hazards. Eligible Customers: To be eligible for ADDI assistance, individuals must be first-time homebuyers interested in purchasing single-family housing. A first-time homebuyer is defined as an individual and his or her spouse who have not owned a home during the three-year period prior to the purchase of a home with ADDI assistance. ADDI funds may be used to purchase one- to four- family housing, condominium unit, cooperative unit, or manufactured housing. Additionally, individuals who qualify for ADDI assistance must have incomes not exceeding 80% of area median income. Eligible Activities: ADDI funds may be used for downpayment, closing costs and, if necessary, rehabilitation in conjunction with home purchase. ADDI funds used for rehabilitation may not exceed twenty percent of the participating jurisdiction's total ADDI allocation. The rehabilitation assisted with ADDI funds must be completed within one year of the home purchase. Grant Size: The maximum and minimum grant sizes for American Dream Downpayment Initiative (ADDI) are $250,000 and $100,000, respectively for eligible applicants.† The maximum amount of ADDI funds available to individual beneficiaries for down payment assistance is $10,000. These funds may be†used in conjunction with HOME funds. How to Apply: The State will accept applications for the American Dream Downpayment Initiative (ADDI) from local units of government and CHDOs using a competitive process to distribute ADDI funds statewide. CHDOs submitting an application will use this criterion and will use the American Dream Downpayment Initiative (ADDI) application.

Because the American Dream Downpayment Initiative is only for first-time homebuyers, it is not a resource for homeowners whose homes were damaged by Katrina. However, it is available to those who rented before Katrina and who wish to purchase homes (including homes that were damaged by Katrina, as the Initiative includes funding for rehabilitation)

http://www.hud.gov/offices/cpd/affordablehousing/programs/home/addi/index.cfm http://www.mississippi.org/content.aspx?url=/page/3035& http://www.hud.gov/news/releasedocs/addfund.cfm

2. DIRECT LOAN PROGRAM (SECTION 502)

Under the Direct Loan program, individuals or families receive direct financial assistance directly from the Rural Housing Programs in the form of a home loan at an affordable interest rate. Direct loans may be made for the purchase of an existing home or for new home construction. Most of the loans made under the Direct Loan Program are to families with income below 80% of the median income level in the communities where they live. Since RHP is able to make loans to those who will not qualify for a conventional loan, the RHP Direct Loan program enables many more people to buy homes than might otherwise be possible. Rural Housing Direct Loans are loans that are directly funded by the Government. † These loans are available for low- and very low-income households to obtain homeownership.† Applicants may obtain 100% financing to purchase an existing dwelling, purchase a site and construct a dwelling, or purchase newly constructed dwellings located in rural areas.† Mortgage payments are based on the household's adjusted income.† These loans are commonly referred to as Section 502 Direct Loans. Purpose:† Sechousehold’soans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. Eligibility: † Applicants for direct loans from RHP must have very low or low incomes. † Very low income is defined as below 50 percent of the area median income (AMI); low income is between 50 and 80 percent of AMI; moderate income is 80 to 100 percent of AMI. †Click here to review area income limits for this program.† Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance, which are typically within 22 to 26 percent of an applicant's income.† However, payment subsidy is available to applicants to enhance repayment ability.† Applicants must be unable to obtain credit elsewhere, yet have reasonable credit histories. Elderly and disabled persons applying for the program may have incomes up to 80 percent of area median income (AMI).

Section 502) http://www.rurdev.usda.gov/rhs/sfh/brief_rhdirect.htm

3. LOAN GUARANTEE PROGRAM (SECTION 502)

Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. Under the Guaranteed Loan program, the Rural Housing Programs guarantees loans made by private sector lenders (A loan guarantee through RHP means that, should the individual borrower default on the loan, RHP will pay the private financier for the loan.) The individual works with the private lender and makes his or her payments to that lender. Under the terms of the program, an individual or family may borrow up to 100% of the appraised value of the home, which eliminates the need for a down payment. Since a common barrier to owning a home for many low-income people is the lack of funds to make a down payment, the availability of the loan guarantees from RHP makes the reality of owning a home available to a much larger percentage of Americans. Eligibility: Applicants for loans may have an income of up to 115% of the median income for the area. Area income limits for this program are here. † Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance.† In addition, applicants must have reasonable credit histories. Approved lenders under the Single Family Housing Guaranteed Loan program include:

· Any State housing agency;

· Lenders approved by: o HUD for submission of applications for Federal Housing Mortgage Insurance or as an issuer of Ginnie Mae mortgage backed securities; o the U.S. Veterans Administration as a qualified mortgage; o Fannie Mae for participation in family mortgage loans; o Freddie Mac for participation in family mortgage loans;

· Any FCS (Farm Credit System) institution with direct lending authority;

· Any lender participating in other USDA Rural Development and/or Farm Service Agency guaranteed loan programs.

http://www.rurdev.usda.gov/rhs/sfh/brief_rhguar.htm

4. MUTUAL SELF-HELP HOUSING PROGRAM (SECTION 523)

The Mutual Self-Help Housing Program makes homes affordable by enabling future homeowners to work on homes themselves. With this investment in the home, or "sweat equity", each homeowner pays less for his or her home. Each qualified applicant is required to complete 65% of the work to build his or her own home. Technical Assistance Grants and Site Loans are provided to nonprofit and local government organizations, which supervise groups of 5 to 12 enrollees in the Self-Help Program. Members of each group help work on each other's homes, moving in only when all the homes are completed. Once accepted into the Self-Help Housing Program, each individual enrollee generally applies for a Single-Family Housing Direct Loan (Section 502). Purpose: The Section 502 Mutual Self-Help Housing Loan program is used primarily to help very low- and low-income households construct their own homes. The program is targeted to families who are unable to buy clean, safe housing through conventional methods. Families participating in a mutual self-help project perform approximately 65 percent of the construction labor on each other's homes under qualified supervision. The savings from the reduction in labor costs allows otherwise ineligible families to own their homes. If families cannot meet their mortgage payments during the construction phase, the funds for these payments can be included in the loan. Eligibility: Applicants must have very low or low incomes. Very low income is defined as below 50 percent of the area median income (AMI); low income is between 50 and 80 percent of AMI. Families must be without adequate housing; however, they must be able to afford the mortgage payments including principal, interest, taxes and insurance (PITI). These payments are 22 to 26 percent of an applicant's income. In addition, applicants must be unable to obtain credit elsewhere, yet have reasonable credit histories. Families with very low incomes living in substandard housing are given first priority. Terms: Loans are for up to 33 years (38 for those with incomes below 60 percent of the area median and who cannot afford 33-year terms). The promissory note interest rate is set by RHP (in July 1997 it was 7.25 percent). However, the interest rate is not usually meaningful since payment assistance can reduce the interest rate to as low as 1 percent. The amount of subsidy is determined by family income as a percentage of AMI, so that the family pays from 22 to 26 percent of their income for principal, interest, taxes, and insurance (PITI) up to an amount not exceeding the promissory note rate. There is no required down payment. RHP must also determine repayment feasibility using ratios of repayment (gross) income to PITI and to total family debt. Standards: Under the Section 502 Mutual Self-Help Housing program, housing must be modest in size, design, and cost. Modest housing is defined as housing costing less than the HUD dollar cap, which as of 1997 was $81,548 with adjustments for high cost areas. Houses constructed must meet the voluntary national model building code adopted by the state and RHP thermal and site standards. Approval: Rural Development Community Development Managers have the authority to approve most Section 502 Mutual Self-Help Housing loan requests. If no backlog exists, decisions on applications should be made within 30 to 60 days of the Rural Development office's receipt of the application. Basic Instruction: 7 CFR Part 3550 and HB2-3550

http://www.rurdev.usda.gov/rhs/sfh/brief_selfhelpsite.htm

II. RELATED PROGRAMS FOR GOVERNMENT AND NON-PROFIT USE

1. HOME INVESTMENT PARTNERSHIP GRANTS PROGRAM

HOME is a federally funded grant program designed to strengthen partnerships between public and private agencies to provide affordable housing within state and local communities.† Local communities can use HOME funds to improve their housing situation in many different ways, including: Homeowner Rehabilitation/Reconstruction, New Construction or Substantial Rehabilitation of multi-family rental units; and Assistance to Homebuyers. The State HOME Program makes funds available to county governments and certified Community Housing Development Organizations (CHDOs), incorporated municipalities, not designated by HUD as local participating jurisdictions or Consortium. HOME funds are provided in the following categories:

2. HOMEBUYER ASSISTANCE GRANTS

http://www.mississippi.org/content.aspx?url=/page/HOME&

Homebuyer Assistantance grants may be made to local units of government, and community housing development organizations (CHDOs) to provide assistance to credit worthy families†in purchasing a home by providing down payment assistance or buying down the mortgage to eliminate high monthly payments. The State will accept applications for Homebuyer Assistance from local units of government and CHDOs using a competitive process to distribute HOME funds statewide.† The State has designed specific selection criteria that will be used to objectively rate the applications.† Applications will be accepted for downpayment assistance on newly constructed homes or acquisition of†existing single-family units.† CHDOs submitting an application for the Homebuyer Assistance in the CHDO set-aside will use the†same criteria and will use the Homebuyer Assistance application. Grant Size: The maximum and minimum grant sizes for Homebuyer Assistance are $250,000 and $100,000, respectively

3. HOMEOWNER REHABILITATION/CONSTRUCTION GRANTS
http://www.mississippi.org/content.aspx?url=/page/HRR&

Homeowner Grants Homeowner Rehabilitation/Reconstruction grants may be made to units of local government to assist homeowners in making repairs to their homes to correct defects in plumbing, roofing, heating, insulation or other renovations that will provide the family with a safe, sanitary and decent home. The State will take applications for Homeowner Rehabilitation for the rehabilitation of single-family owner-occupied housing. HOME funds will be distributed statewide to eligible local units of government using a competitive process. Grant Size: The maximum and minimum grant sizes for Homeowner Rehabilitation are $350,000 and $100,000, respectively.

4. HOUSING REVOLVING LOAN PROGRAM

http://www.mississippi.org/content.aspx?url=/page/revolvingloanprogram&

The Housing Revolving Loan Program (HRL) provides low interest loans for the production and acquisition of single-family units for homeownership for low and moderate-income persons. For more information contact: Community Services Division Grants Management Bureau Telephone:†601.359.3179 Fax:†601.359.9311 [e-mail]

III. MISSISSIPPI DEVELOPMENT AUTHORITY AND CDBG FUNDS

A. OVERVIEW

The Fiscal Year 2006 Department of Defense Appropriations Act (H.R. 2863) includes $29 billion for specific needs arising from Hurricane Katrina in Mississippi, Louisiana, and Alabama. $11.5 billion is made available for "disaster relief, long-term recovery, and restoration of infrastructure in the most impacted and distressed areas related to the consequences of hurricanes in the Gulf of Mexico in 2005" through the Community Development Block Grant ("CDBG") Program. In Mississippi, The Mississippi Development Authority ("MDA"), which already administers CDBG funds provided by the federal government each year, will administer the state’s share of the Katrina CDBG funds.

MDA is developing the program infrastructure for administering the homeowner assistance program. In general, homeowners may receive up to $150,000, less any insurance proceeds or payments from FEMA, not to exceed the value of damage to the original home. To qualify for the grant, homeowners will likely have to satisfy the following criteria:

1. The home must be owner-occupied and uninhabitable due to Hurricane Katrina†

2. The home must be located outside of the federally designated flood zone, yet flooded due to Hurricane Katrina.

3. The owner must have had home owners' insurance.

4. The owner must agree that if they build back they will†use the new building codes and comply with new flood maps.

5. The owner must agree to buy flood insurance in perpetuity. This requirement would pass on to new owners as well.

The following are loans, grants, and direct aid for homeowners who suffered damage as a result of Hurricane Katrina, but who fail to satisfy one of more of the above criteria (for example, those whose homes are located outside of the Surge Innundation Line, but still suffered wind or other damage). The following list contains resources for individuals who need to make repairs to their homes, as well as for those who wish to purchase homes.

B. PILOT PROJECTS

Below is a list of programs that are offered by the Mississippi Development Authority ("MDA") financed by funds allocated by the federal government. The majority of the programs are tailored to meet the national objectives of the program by aiding the development of viable communities that provide their residents with suitable living environment and economic opportunities. However, a number of the programs should be tailored to be more consistent with the state objective of streamlining the procedures for implementing the grants.

The process for attaining the necessary funds consists of the business entity or individual requesting the funds from the MDA may be exhaustive for those who are not well-equipped to describe their plans for the funds in a way that fit under the separate headings. There is no mention from the MDA as to whether or not the applicants that are rejected from one category will be considered for another. That type of communication may be critical to ensure that the applicants have every type of available funding. Any sort of assistance from students in business or urban planning fields has the potential for helping the businesses in creating compliance between the business plan and the program requirements. A project that would help to facilitate communication between the applicants would also be helpful since some of the programs have a higher maximum amount of funds for those who apply jointly. This would also help to reduce the amount of duplication of projects. The Community Self Help Program has a strong potential to create available funds for developers, and the specifics of this program should be communicated to interested parties in the construction business.

Retail training is a forthcoming project that the MDA is creating, and it is probable that a wider variety of training should be incorporated into some of the programs. The Mississippi Research and Development Program ("R&D Loan Program"), administered by the Mississippi Development Authority is designed for making loans to private companies to aid in the creation of new and expanding research and development, and technology-based businesses and industries. The R&D Loan Program would be a prime candidate for a program in which training conditions should be attached to loan eligibility. This would increase the long-term self-sustainability of the projects. If some of the funds could be used to create a type of construction training, it would be to the economic advantage of the state to help increase the supply of trained workers to meet the demands of the community rebuilding efforts.

Economic Development Grants require the funds to go to the municipality or local agency, and then the funds are allocated to the business entity. The distribution process is not completely clear from the description, but it would be useful for the municipality to include a description of projects from applicants in order to decrease the bureaucracy that may slow down the money distribution process.

1. COMMUNITY DEMONSTRATION

To help support community development and economic growth for those communities willing to initiate a community self-improvement effort. For those projects proposing downtown improvements, facade activities will be limited to $25,000 per project and must be matched dollar for dollar.

2. RENEWAL COMMUNITY PROGRAM

The 2000 Community Renewal Tax Relief Act established the Renewal Community (RC) Initiative that will encourage public-private collaboration to generate economic development in distressed communities around the country.

The Mississippi Development Authority (MDA) participates in the Empowerment Zone/Enterprise Community Program (EZ/EC), in coordination with the Department of Housing and Urban Development and the Department of Agriculture. This program provides technical and financial resources that help communities to help themselves in the implementation of strategic plans for economic and social development.

By bringing together local community members, private and nonprofit entities, as well as, federal, state, and local governments, it is the goal of these programs to ensure an efficient and effective means of revitalizing - from the ground up - communities which have the EZ/EC designation. (expansion because of hurricane)

Two categories recognized are: (a) Small Business (50 or less employees) - One District Winner from each of the eight MEDC districts and one Statewide Winner chosen from the eight District Winners ; (b)Big Business (51 or more employees) - One District Winner from each of the eight MEDC districts and one Statewide Winner chosen from the eight District Winners

Purchase of buildings for economic development purposes.

The cumulative maximum loan amount for any eligible local unit of government during a calendar year is $750,000. A local entity may borrow up to $500,000 on tax-exempt loans per calendar year and $750,000 on taxable loans per calendar year. The minimum loan amount allowed per project is $30,000. The maximum CAP loan indebtedness allowed per Applicant is $2,500,000 outstanding principal balance.

At least 51% of jobs to be created/retained must be filled by or made available to persons from low-and moderate-income families, or the project must meet the Slums and Blight National Objective.

The purpose of the Mississippi Micro-Enterprise Development (MMED) is to assist units of local government in the support of micro-enterprise business endeavors. Grants are awarded to eligible units of local government that will then be loaned to a specific for-profit business or local units of government contract with an eligible qualified entity that is directly involved with micro-enterprise development. (all of the business loans sound the same. maybe to give ppl a better chance of getting the money there should be some sort of communication between all of the sub-programs in case someone applies to 1 in which a lot of others apply , but is eligible for another) (design programs to help businesses fill out the applications...maybe internships with business students. maybe business students at universities or urban planning majors could assist)

Local Units of Government and Qualified Entity: shall be a certified Community Development Financial Institution (CDFI) or Community Development Corporation (CDC), a federally insured Credit Union or Bank, or a micro-enterprise loan program operated by a local unit of government in accordance with MDA requirements.(understand this criteria. maybe explain this criteria and include these applications with the loan applications).There may be an increase of grant size for involvement by joint applicants. Joint projects will be reviewed on a case-by-case basis.

Mississippi Business Enterprise Loan Program. The Mississippi Business Enterprise Loan Program, administered by the Mississippi Development Authority, combines state and private lending sources to assist new and existing minority businesses in gaining access to needed capital in the form of direct low-interest loans. A minority business is a socially and economically disadvantaged small business concern organized for profit (as defined under the Small Business Act, 15 U.S.C.S, Section 637 ) and performing a commercially useful function. The business must have one or more minority or female owners with controlling interest. The Minority Business Loan Program, administered by the Mississippi Development Authority provides a funding source for businesses needing financing for small projects. Loan amounts for projects range from $2,000 to $35,000 and owner's equity injection

3. MISSISSIPPI BUSINESS INVESTMENT ACT PROGRAM. The Mississippi Business Investment Act Program ("MBI"), administered by the Mississippi Development Authority ("MDA"), is a program designed for making grants and/or loans to counties or incorporated cities or towns, acting individually or jointly, in order to finance authorized improvements for projects necessary to compliment investments by private companies, which will increase domestic and international commerce and create and maintain new full-time jobs in the State of Mississippi.

[EFerrari]

1. Excellent! Thanks foir the heads up!

:kick:

[coffeenap]

2. k & r

:hi:

[Hissyspit]

3. K & R

[noamnety]

4. K & R

excellent list, thanks!

[Joanne98]

5. C-SPAN re-airing WJ faith-based initiatives RIGHT NOW!

BTW Jesus does nothing to help people get off drugs. It's well documented by NA.

[merh]

6. Thanks intheflow

That is a great reference list! :hi:

K&R of course

:hug:

[gulfcoastliberal]

7. K&R!!!

Thanks ITF!

[helderheid]

8. K&R!!

[Plaid Adder]

9. Kick! n/t

[benevolent dictator]

10. kick!

[uppityperson]

11. K&R, great, thanks

[pat_k]

12. Isn't Bush's "You're on your own"ership society great?

I'm happy to support the organizations that are out there on the front line, but when more than 80% of this nation are in 100% agreement that we have an NATIONAL obligation to make New Orleans whole, why aren't more people demanding to know why OUR government is not carrying out OUR will and committing OUR common resources to the task?

[Tsiyu]

13. Kicking for the truth: ** & Co. SUCK

:kick:

[merh]

14. kick

:kick:

[EFerrari]

15. Kick