34 USC 12201 - Community development corporation improvement grants

U.S Code last checked for updates: Nov 23, 2024

§ 12201.

Community development corporation improvement grants

(a)

Purpose

(b)

Skill enhancement grants

(1)

In general

(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

(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

 See References in Text note below.

(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

(e)

Amount available for community development corporation

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

cite as: 34 USC 12201