Community Development Block Grants/Brownfields Economic Development Initiative
Program Objective
To return Brownfields to productive economic use by assisting units of general local government in carrying out economic development projects on contaminated land or buildings. BEDI grants are designed to enhance the security of loans guaranteed under the Section 108 program or improve the viability of projects financed with Section 108 funds.
Eligibility
Eligible Applicants
- Local Government Consortium
Units of general local government eligible to receive Community Development Block Grant funds.
Beneficiaries
- U.S. State Government
- Local Government Consortium
The principal beneficiaries are low and moderate income persons.
How to Apply
Award Procedure
Competitive, based upon factors published in a Federal Register NOFA or posted on HUD.GOV.
Decision Timeline
- Approval: From 90 to 120 days
- Appeal: From 120 to 180 days
Public award announcements made after completion of grant competition.
Program details & compliance
Description
BEDI grants are designed to enhance the security of loans guaranteed under the Section 108 program or improve the viability of projects financed with Section 108 funds.
Mission Categories
Primary: Economic Development
Other categories:
Construction, Renewal and OperationsConstruction RehabilitationProperty and Mortgage Insurance
Use of Funds
Allowed Uses
Assistance may be used for any activity eligible under Section 108(a) of the Housing and Community Development Act of 1974, except that fiscal year 2008/09 grant funds may not be used to fund reserves. Grant funds may only be used in conjunction with a new, that is, not yet approved, Section 108 Loan for the same project.
Required Documentation
Costs will be determined in accordance with OMB Circular No. A-87 for State and local governments.
Matching Requirements
Must be used in conjunction with a Section 108 Loan Guarantee and must be matched at a minimum of $1:$1 of BEDI to Seciton 108.
Reporting & Compliance
Applicable 2 CFR 200 Subparts
- Subpart B — General Provisions
- Subpart C — Pre-Federal Award Requirements
- Subpart D — Post-Federal Award Requirements
- Subpart E — Cost Principles
- Subpart F — Audit Requirements