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RURAL HOUSING AND ECONOMIC The Rural Housing and Economic Development (RHED) Program provides annual competitive grants for capacity building at the State and local level for rural housing and economic development and to support innovative housing and economic development activities in rural areas. Eligible applicants are local rural non-profits, community development corporations (CDCs), state housing finance agencies, state community and/or economic development agencies, and Indian tribes. Funds are available in 2 categories, Capacity Building and Support for Innovative Housing and Economic Development activities. Capacity Building involves the enhancement of existing organizations to carry out new functions and/or perform more effectively existing functions. Possible activities include hiring and training staff, purchasing software and other tools, obtaining expertise from outside sources, developing an accounting system, conducting asset inventories, developing strategic plans, and seeking technical assistance. The maximum award under this category is $150,000. Support for Innovative Housing and Economic Development activities include preparation of plans, architectural drawings, acquisition of land and buildings, demolition, provision of infrastructure, purchase of materials, construction, use of local labor markets, and job training. Other possible activities include homeownership and financial counseling; application of innovative construction methods; provision of financial assistance to homeowners, businesses, and developers; and the establishment of CDFIs, lines of credit, revolving loan funds, microenterprises, and small business incubators. The maximum award under this category is $400,000. Although no funds have been awarded under this program to assist farmers' markets in the past, farmers' markets assist economic development in rural areas in various ways and therefore, this program provides an interesting possibility for an organization promoting farmers' markets to receive a grant for the above activities. Funding Next Round
of Funding To find out more about this program, including information on applying
for a grant go to: http://www.hud.gov/offices/cpd/economic |
