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The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
The Empowerment Zone Program consists of three US congressional designations. [2] The Renewal Communities (RCs), Empowerment Zones (EZs) and Enterprise Communities (ECs) are highly distressed urban and rural communities that may be eligible for a combination of grants, tax credits for businesses, bonding authority and other benefits.
WASHINGTON (AP) — The Biden administration on Tuesday outlined how states and nonprofit groups can apply for $27 billion in The post Disadvantaged communities eligible for piece of $27B pie to ...
To qualify, the Opportunity Fund must invest more than 90% of its assets in a Qualified Opportunity Zone Property located in an Opportunity Zone. [8] The property must be original use, or meet the definition of substantial improvement, meaning that the adjusted basis in the property must be doubled after purchase. [9]
The MBTA Communities Act, signed into law by former Gov. Charlie Baker, requires 177 cities and towns to have at least one zoning district of "reasonable size" that allows multifamily housing by ...
All U.S. states are automatically eligible for HOME funds, and each receives a minimum of $3 million for the program, while local governments receive a minimum of $500,000 (unless the United States Congress assigns $1.5 billion or less to the program, in which case they receive a minimum of $335,000). [2]
Illinois enacted the Protect Illinois Communities Act in January 2023. The law prohibits the sale and possession of certain semi-automatic rifles, shotguns and handguns, and magazines over certain ...
New York State initiated a related program funding three additional communities. Most of the sites were green field development. [4] The act allowed up to 75% of development costs to state agencies to be granted by the program, and planning grants of 66% of the cost of the development to be awarded directly to the developer.