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The CDBG program was enacted in 1974 by President Gerald Ford through the Housing and Community Development Act of 1974 and took effect in January 1975. Most directly, the law was a response to the Nixon administration's 1973 funding moratorium on many Department of Housing and Urban Development (HUD) programs.
An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
Examples of programs under these funding techniques are the Section 8 program and the Community Development Block Grant program. Reimbursement of funds – This funding technique requires the recipient to pay program expenditures with their own funds, and then request a reimbursement for those expenses from the federal government or pass ...
A block grant in the United States is a grant-in-aid of a specified amount from the federal government of the United States to individual states and local governments to help support various broad purpose programs, such as law enforcement, social services, public health, and community development.
The restaurant tax alone nets $12–$14 million per year of the Trust's $40 million/year budget. Every $1 from the Trust leverages $5 of external public and private funding, and that funding is allocated to shelters, transitional housing, and permanent housing with supportive services.
A third provision of the Community Renewal Tax Relief Act of 2000 was the establishment of tax incentives for investment or loans provided to small businesses in low-income communities. [2] This tax credit, known as the New Markets Tax Credit Program, is established for investments in community development entities (CDEs). CDEs have three ...
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve.
In early 2011, for the FY 2012 United States Budget, President Obama proposed $350 million in reductions to the Community Service Block Grant Program, cutting its allocation in half. [ 4 ] See also