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 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.
General information about this opportunity
Last Known Status
Assistant Secretary For Community Planning and Development, Department of Housing and Urban Development
Type(s) of Assistance Offered
B - Project Grants
Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999, Public Law 105-276
Who is eligible to apply/benefit from this assistance?
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.
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.
What is the process for applying and being award this assistance?
Preapplication coordination is required. not applicable
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. The AEDI Competition has been completed according to application procedures and instructions included in the FY2014 AEDI NOFA and the FY2014 General Section.
HUD will review eligible submitted applications and determine application scores. Once rating scores are assigned, rated applications well be listed in ranked order. HUD will send written notifications to both successful and unsuccessful applicants. After award, grantees will submit their action plan and budget into HUD's web based system prior to approval to draw down. Applicants will be given the opportunity to amend their budget according to the grant award, in the event HUD awards less than the requested amount prior to entering into the grant agreement. HUD will approve the action plan(s) or notify the grantee of matters that need to be addressed prior approval.
Approval/Disapproval Decision Time
From 30 to 60 days. The AEDI Competition has been completed and awards were announced March 30, 2015.
How are proposals selected?
Information on application review and selection criteria was made available in the Notice of Funds Availability published in the FY2014.
How may assistance be used?
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.
What are the requirements after being awarded this opportunity?
Information on reporting requirements and procedures was made available in the Notice of Funds Availability published in FY2014.
Applicants must maintain records to satisfy the reporting requirements listed above and in the FY2014 AEDI NOFA.
Other Assistance Considerations
Formula and Matching Requirements
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.
Length and Time Phasing of Assistance
Awards will be made available for a period of 36 months from the date of execution of the grant agreement. Method of awarding/releasing assistance: Letter.
Who do I contact about this opportunity?
Regional or Local Office
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
(Project Grants) FY 18$0.00; FY 19 est $0.00; FY 20 est $0.00; FY 17 est $0.00; FY 16$0.00; - This is a one time program using recaptured money from the RHED program.(Project Grants) FY 18$0.00; FY 19 est $0.00; FY 20 est $0.00; - (Project Grants) FY 18$0.00; FY 19 est $0.00; FY 20 Estimate Not Available - 0(Project Grants) FY 18 FY 19 est $0.00; FY 20 est $0.00; - (Project Grants) FY 18$0.00; FY 19 est $0.00; FY 20 est $0.00; - 0
Range and Average of Financial Assistance
Up to $1,000,000
Regulations, Guidelines and Literature
Information on specific regulations and guidelines were made available in Notice of Funds Availability published the FY2014.
Examples of Funded Projects