2015-25536. Announcement of Funding Awards for the Delta Community Capital Initiative Fiscal Year 2014

AGENCY:

Office of the Assistant Secretary for Community Planning and Development, HUD.

ACTION:

Notice of funding awards.

SUMMARY:

In accordance with section 102(a)(4)(C) of the Department of Housing and Urban Development Reform Act of 1989, this announcement notifies the public of funding decisions made by the Department in a competition for funding under the Notice of Funding Availability (NOFA) for the Delta Community Capital Initiative. This announcement contains the names of the awardees and the amounts of the awards made available by HUD.

FOR FURTHER INFORMATION CONTACT:

Jackie L. Williams, Ph.D., Director, Office of Rural Housing and Economic Development, Office of Community Planning and Development, 451 Seventh Street SW., Room 7240, Washington, DC 20410-7000; telephone [phone] (this is not a toll free number). Hearing- and speech-impaired persons may access this number via TTY by calling the Federal Relay Service toll-free at 1-800-877-8339.

SUPPLEMENTARY INFORMATION:

Funds used for the Delta Community Capital Initiative were appropriated to the Office of Rural Housing and Economic Development in annual appropriations between 1999 and 2009 (Pub. L. 105-276; 106-74; 106-377; 107-73; 108-7; 108-199; 108-447; 109-115; 110-5; 110-161; and/or 111-8) and subsequently recaptured from or surrendered by underperforming or nonperforming grantees.

The competition was announced in the Federal Register (FR Doc. No FR-5800-N-18) on Thursday, September 4, 2014. Applications were rated and selected for funding on the basis of selection criteria contained in that notice.

The Catalog of Federal Domestic Assistance number for this Delta Community Capital Initiative program is 14.271. The Delta Community Capital Community Initiative is designed to increase access to capital for business lending and economic development in the chronically underserved and undercapitalized Lower Mississippi Delta Region. Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions that focus on business lending and economic development to benefit the residents of the Lower Mississippi Region. Eligible applicants for the Delta Community Capital Initiative are Federally recognized Indian tribes and local rural nonprofit organizations having a 501(c)(3) status with the IRS. The funds made available under this program were awarded competitively through a selection process conducted by HUD.

In accordance with section 102(a)(4)(C) of the Department of Housing and Urban Development Reform Act of 1989 (103 Stat. 1987. 42 U.S.C. 3545), the Department is publishing the grantees and amounts of the awards in Appendix A to this document.

Dated: October 1, 2015.

Harriet Tregoning,

Principal Deputy Assistant, Secretary for Community Planning and Development.

APPENDIX A

FY 2014 Delta Community Capital Initiative Grantees

Grantee	State	Amount awarded
Communities Unlimited, Inc	AR	$228,040.00
Southern Bancorp Capital Partners	AR	250,000.00
LiftFund, Inc	TX	1,000,000.00
Total		1,478,040.00