7 U.S.C. § 2009n | Rural Community Development Initiative

(a)

Definitions

In this section:

(1)

Eligible entity

The term “eligible entity” means—

(A)

a private, nonprofit community-based housing or community development organization;

(B)

a rural community; or

(C)

a federally recognized Indian tribe.

(2)

Eligible intermediary

The term “eligible intermediary” means a qualified—

(A)

private, nonprofit organization; or

(B)

public organization.

(b)

Establishment

The Secretary shall establish a Rural Community Development Initiative, under which the Secretary shall provide grants, subject to the availability of appropriations, to eligible intermediaries to carry out programs to provide financial and technical assistance to eligible entities to develop the capacity and ability of eligible entities to carry out projects to improve housing, community facilities, and community and economic development projects in rural areas.

(c)

Amount of grants

The amount of a grant provided to an eligible intermediary under this section shall be not more than $500,000.

(d)

Matching funds

(1)

In general

An eligible intermediary receiving a grant under this section shall provide matching funds from other sources, including Federal funds for related activities, in an amount not less than the amount of the grant.

(2)

Waiver

The Secretary may waive paragraph (1) with respect to a project that would be carried out in a persistently poor rural region, as determined by the Secretary.

Pub. L. 87–128, title III, § 381O Pub. L. 119–101, title V, § 502(h)July 11, 2026140 Stat. 923 (, as added , , .)

Editorial Notes

Prior Provisions

Pub. L. 87–128, title III, § 381O Pub. L. 104–127, title VII, § 761Apr. 4, 1996110 Stat. 1147 Pub. L. 107–171, title VI, § 6026(b)May 13, 2002116 Stat. 372 A prior section 2009n, , as added , , , related to rural venture capital demonstration program, prior to repeal by , , .

Section text and notes