34 U.S.C. § 12201 — Community development corporation improvement grants

This section has five lettered parts, (a) through (e).

(a) Purpose. This section exists to help community development corporations get better at managing themselves and running their operations, and to give them more resources for community economic development work.

(b) Skill enhancement grants. The Secretary awards grants to community development corporations to build up the business management and development skills of the people who run them, so they can go after the public and private funding they need for projects. A corporation that gets one of these grants can spend the money getting training and technical assistance from experienced agencies or institutions, or from other community development corporations that have had a lot of success.

(c) Operating grants. The Secretary also awards grants to help corporations support the day-to-day staff needed to plan, develop, and manage low-income community economic development projects. A corporation getting this kind of grant can use it to study whether a potential project is feasible and fits the rules for those projects, to write a business plan for a project, or to round up resources for a planned project or strategy.

(d) Applications. A corporation that wants either kind of grant applies to the Secretary, following whatever process and timing the Secretary requires.

(e) Amount available for community development corporation^*. No corporation can get more than $75,000 per year under this section. A corporation can apply for up to three years in a row, but each year it has to submit a brand-new application and compete against other applicants for the money.