Community Development Block Grants-Section 108 Loan Guarantees Grants

What is the aim of the Community Development Block Grants-Section 108 Loan Guarantees Grants?

To provide communities with a source of financing for economic development, housing rehabilitation, public facilities, and large scale physical development projects.

Who are Eligible for the Community Development Block Grants-Section 108 Loan Guarantees Grants?

Eligible Applicants for the grants include: metropolitan cities and urban counties, i.e., CDBG entitlement recipients; nonentitlement communities that are assisted in their submission of applications by States that administer the CDBG program; nonentitlement communities eligible to receive CDBG funds under the HUD-Administered Small Cities CDBG program; and Insular Areas (American Samoa, Guam, Northern Mariana Islands, and the Virgin Islands). The public entity may be the borrower or it may designate a public agency to be the borrower. Furthermore, HUD’s FY 2010 appropriations act authorizes HUD to provide loan guarantees to States borrowing on behalf of local governments in nonentitlement areas.

The principal beneficiaries of Community Development Block Grants-Section 108 Loan Guarantees Grants are the are low and moderate income persons.

How to Apply for the Community Development Block Grants-Section 108 Loan Guarantees Grants?

Application requirements are found in 24 CFR Section 570.704.

How much is the range and average of financial assistance of Community Development Block Grants-Section 108 Loan Guarantees Grants?

In FY 2009, commitments were issued in amounts ranging from $353,000 to $69,700,000.

Where to Apply for the Community Development Block Grants-Section 108 Loan Guarantees Grants?

Regional or Local Office. Please see Regional Agency Offices. Contact appropriate HUD Field Office listed in Appendix IV of the Catalog.

For more information on the Community Development Block Grants-Section 108 Loan Guarantees Grants , contact:

Paul D. Webster
451 7th Street, SW Room 7180, Washington, District of Columbia 20410
Phone: (202) 708-1871
Fax: (202) 708-1798
Email: paul.webster@hud.gov
Web Site Address: http://www.hud.gov/offices/cpd/communitydevelopment/programs/

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