Community Development Block Grant - Economic Development (NE)

The Community Development Block Grant - Economic Development (NE) aims to enhance Nebraska's economic base by supporting for-profit businesses that create quality jobs for low- and moderate-income individuals. With maximum project costs of $1,000,000 and a minimum of $125,000, these funds are crucial for local development. The initiative ensures compliance with federal regulations and promotes timely use of resources, thereby fostering economic prosperity across communities.

NOTE: Please look at page 36 of the Community Development Block Grant (CDBG) Application Guidelines for more in-depth information about the Economic Development opportunity.
Community Development Block Grant - Economic Development (NE)
Purpose
CDBG funds can be utilized for economic development projects. The objective of the Economic Development (ED) opportunity is to assist businesses which expand the state’s economic base, and which create quality jobs primarily benefiting employees in the low- and moderate-income levels.
CDBG funds will be utilized within the Economic Development Priority Need by a UGLG for providing communities and counties with resources to assist for-profit businesses which expand the state’s economic base, and which create quality jobs principally benefiting LMI employees and made available under the LMI CDBG National Objective criteria.
In addition, the CDBG State Revolving Loan Fund (RLF) objective is to provide adequate financing for local development to ensure Nebraska's economic prosperity and to use all resources in a timely manner. The State is responsible for ensuring that program income at the state and local levels is used in accordance with applicable federal laws and regulations. Program income for the state's program under the ED opportunity is regulated by the provisions of 24 C.F.R. §570.489(e).
During the Program Year, all activities proposed in applications for CDBG funding in the ED opportunity must meet the national objective of benefiting low- and moderate-income persons (through the subcategory LMI Jobs).