CDBG assists local governments in implementing commercial and industrial economic development projects. Approved program funds are dispersed to eligible local jurisdictions as conditional grants and can be used for public improvements for business startup or expansion, or for business loans. The political subdivision may be liable if the project fails.
The use of funds is quite broad and includes the acquisition of fixed assets, infrastructure, and feasibility studies.
Projects must create jobs with the majority targeted to individuals of low to moderate income, or eliminate blight conditions that impede commercial and industrial development.
For more information about CDBG contact:
Les Hall, Director
DBED Office of Finance Programs