Appalachia Economic Development Initiative

AEDI s goal is to increase access to capital for business lending and development in the chronically under-served and under-capitalized Appalachian region.

Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions in areas

credit:
of the Appalachian Region that suffer from a lack of capacity to support business development.

The AEDI will coordinate with ARC s economic development programs such as the ACC intermediary to identify areas within the Appalachian Region that are most in need of lending and investment capacity.

The AEDI will provide funding and assistance to local rural non-profit organizations that will increase the capital and support available to businesses in under-served communities and enhance the effectiveness of economic development programs for these areas.

Agency - Department of Housing and Urban Development

The Department of Housing and Urban Development's mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. HUD fulfills this mission through high ethical standards, management and accountability, and by forming partnerships with community organizations.




Program Accomplishments

Not Applicable.

Uses and Use Restrictions

Innovative economic development uses, including but not limited to loan or investment capital, loan loss reserves, program staff costs, information systems, market studies, portfolio analyses, business planning, and other activities supporting the program goals.

Award must be used to support the eligible activities.

Eligibility Requirements

Applicant Eligibility

Applicants that are eligible to participate in this initiative are State community and/or economic development agencies that apply on behalf of local rural nonprofit organizations in the Appalachia Region.

Applicants may serve markets other than Appalachia residents and communities, using other sources of financing.

Beneficiary Eligibility

Eligible target markets for use of AEDI funds include geographic areas and/or populations, as described below.

Geographic areas include the 420 counties in 13 states that make up the Appalachia Region, as defined by the Appalachian Regional Commission. Appalachian Regional Commission (ARC) is a federal-state partnership working to stimulate economic development. The ARC is composed of the governors of the 13 Appalachian states and a federal co-chair, who is appointed by the president. Local participation is provided through multi-county local development districts. The thirteen states that are included in the region are: Alabama, Georgia, Kentucky, Maryland, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, West Virginia, and Virginia.

Credentials/Documentation

No Credentials or documentation are required. This program is excluded from coverage under OMB Circular No. A-87.

Aplication and Award Process

Preapplication Coordination

Preapplication coordination is not applicable.

Environmental impact information is not required for this program.

This program is excluded from coverage under E.O.

12372.

Application Procedures

This program is excluded from coverage under OMB Circular No. A-102. This program is excluded from coverage under OMB Circular No. A-110. Information on application procedures is not yet available. Information will be available in Notice of Funds Availability to be released in fiscal year 2014. Application procedures will be similar
to those listed in the Border Community Capital Initiative, with is available on the grants.gov website.

Award Procedures

Information on award procedures is not yet available. Information will be available in Notice of Funds Availability to be released in fiscal year 2014. Award procedures will be similar to those listed in the Border Community Capital Initiative, with is available on the grants.gov website.

Deadlines

Contact the headquarters or regional office, as appropriate, for application deadlines.

Authorization

Departments of Veterans Affairs and Housing and Urban Development, and Independent
Agencies Appropriations Act, 1999, Public Law 105-276.

Range of Approval/Disapproval Time

From 30 to 60 days. Information on application review procedures is not yet available. Information will be available in Notice of Funds Availability to be released in fiscal year 2014.

Appeals

Not Applicable.

Renewals

Not Applicable.

Assistance Considerations

Formula and Matching Requirements

This program has no statutory formula.
This program has no matching requirements. This program has no matching requirements.
MOE requirements are not applicable to this program.

Length and Time Phasing of Assistance

Awards will be available for a period of 36 months from the date of execution of the grant agreement. Method of awarding/releasing assistance: by letter of credit.

Post Assistance Requirements

Reports

Information on reporting requirements and procedures are not yet available.

Information will be available in Notice of Funds Availability to be released in fiscal year 2014.

Reporting requirements will be similar to those listed in the Border Community Capital Initiative NOFA, which is available on the grants.gov website.

Information on reporting requirements and procedures are not yet available.

Information will be available in Notice of Funds Availability to be released in fiscal year 2014.

Information on reporting requirements and procedures are not yet available.

Information will be available in Notice of Funds Availability to be released in fiscal year 2014.

Information on reporting requirements and procedures are not yet available.

Information will be available in Notice of Funds Availability to be released in fiscal year 2014.

Information on reporting requirements and procedures are not yet available.

Information will be available in Notice of Funds Availability to be released in fiscal year 2014.

Monitoring requirements will be similar to those listed in the Border Community Capital Initiative NOFA, which is available on the grants.gov website.

Audits

In accordance with the provisions of OMB Circular No. A-133 (Revised, June 27, 2003), "Audits of States, Local Governments, and Non-Profit Organizations," nonfederal entities that expend financial assistance of $500,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $500,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in Circular No. A-133.

Records

Information on record keeping requirements and procedures are not yet available. Information will be available in Notice of Funds Availability to be released in fiscal year 2014. Record keeping requirements will be similar to those listed in the Border Community Capital Initiative NOFA, which is available on the grants.gov website.

Financial Information

Account Identification

86-0304-0-1-604.

Obigations

(Project Grants) FY 12 Not Seperately Identifiable(Exp: No grants distributed); FY 13 Not Seperately Identifiable(Exp: No grants distributed); and FY 14 est $1,000,000

Range and Average of Financial Assistance

Up to $1,000,000.

Regulations, Guidelines, and Literature

Information on specific regulations and guidelines are not yet available. Information will be available in Notice of Funds Availability to be released in fiscal year 2014.

Information Contacts

Regional or Local Office

None.

Headquarters Office

Thann Young Office of Rural Housing and Economic Development
U.S. Department of Housing and Urban Development
451 7th Street SW, Room 7137
, Washington DC, District of Columbia 20410 Email: thann.young@hud.gov Phone: 1-877-787-2526

Criteria for Selecting Proposals

Information on application review and selection criteria are not yet available. Information will be available in Notice of Funds Availability to be released in fiscal year 2014.



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