Delta Community Capital Initiative

 

DCCI?s goal is to increase access to capital for business lending and development in the chronically under-served and under-capitalized Lower Mississippi Delta Region. Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions so that funding opportunities will be more effective and economic development services will expand to the under-served residents of Lower Mississippi Delta Region. DCCI will focus on helping local financial institutions improve their capacity to raise capital, and to lend and invest in local communities. Strengthening local community development lenders and investors will also widen the channels through which larger private institutions and federal agencies can reach small business owners and entrepreneurs who need their support.

Deleted 03/27/2024 (Archived.) 14.271 Assistant Secretary For Community Planning and Development, Department of Housing and Urban Development B - Project Grants Not applicable. Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999, Public Law 105-276 Applicants that are eligible to participate in this initiative are community development lenders and investors, which may be local rural non-profit organizations or federally recognized tribes. Applicants do not need to be certified as Community Development Financial Institutions by the CDFI Fund at the time of application. If applicants propose to become certified as a CDFI, they should lay out milestones and time frames toward the CDFI certification process in their application. Applicants may serve other markets than Delta residents and communities, using other sources of financing. Eligible target markets for use of DCCI funds include businesses owned by or serving low income residents of the Lower Mississippi Delta Region. The Delta region includes the 252 counties and parishes in eight states that make up the Lower Mississippi Delta Region, as defined by the Delta Regional Authority. The Delta Regional Authority (DRA) is a federal-state partnership working to stimulate economic development and governed by the Delta Regional Authority Board, comprised of the Federal Co-Chairman, appointed by the President and confirmed by the U.S. Senate, and the governors of the eight states. The eight states that are included in the region are: Alabama, Arkansas, Illinois, Kentucky, Louisiana, Mississippi, Missouri, and Tennessee. Not applicable. Preapplication coordination is not applicable. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. The Appalachia Economic Development Initiative has been completed and awards were made March 30, 2015. Application procedures information was made available in the Notice of Funds Availability published in fiscal year 2014. Award procedures information was made available in the Notice of Funds Availability published in fiscal year 2014. Not applicable. Not applicable. Not applicable. Not applicable. Information regarding the application review and selection criteria is available in the Notice of Funds Availability, which was published in fiscal year 2014. 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. Performance Reports: Information regarding reporting requirements and procedures was made available in the Notice of Funds Availability published in fiscal year 2014. Not applicable. Information regarding record keeping requirements and procedures was made available in the Notice of Funds Availability published in fiscal year 2014. Applicants must maintain records to satisfy the reporting requirements listed above and in the BCCI NOFA. Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. Awards will be available for a period of 36 months from the date of execution of the grant agreement. Method of awarding/releasing assistance: Letter. None/Not specified. 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, DC 20410 US
thann.young@hud.gov
Phone: 1-877-787-2526 86-0324-0-1-604 (Project Grants) FY 17 est $0.00; FY 16$0.00; FY 18 est $0.00; - This is a one time program using recaptured money from the RHED program. Original projection was $1,000,000. Actual amount of funds made available was $1,478,040. Information regarding specific regulations and guidelines was made available in the Notice of Funds Availability published in fiscal year 2014. Not applicable.