Local rural non-profits, community development corporations (CDCs), federally recognized Indian tribes, state housing finance agencies (HFAs), and state community and/or economic development agencies.

Maximum Award per Applicant: $400,000

Eligible Activities:

1. Capacity Building and Support for Innovative Housing and Economic Development activities. Capacity building involves the enhancement of existing organizations to carry out new functions and/or perform more effectively existing functions. The maximum award amount under this category is $150,000.
   
   Possible activities include hiring and training staff, purchasing software and other tools, obtaining expertise from outside sources, developing an accounting system, conducting asset inventories, developing strategic plans, seeking technical assistance, improving management capability, and purchasing or leasing office space.
2. Support for Innovative Housing and Economic Development activities is intended for, but not limited to, other costs for innovative housing and economic development activities. The maximum amount awarded in this category is $400,000.
   
   Possible activities include: preparation of plans, architectural drawings, acquisition of land and buildings, demolition, provision of infrastructure, purchase of materials and construction costs, use of local labor markets, job training and counseling for beneficiaries and financial services such as revolving loan funds and Individual Development Accounts or IDAs. Other possible activities include: homeownership and financial counseling, application of innovative construction methods; provision of financial assistance to homeowners, businesses, and developers; and the establishment of CDFIs, lines of credit, revolving loan funds, microenterprises, and small business incubators.

Additional Information (FY06 application summary and documents):
http://www.hud.gov/offices/cpd/economicdevelopment/programs/rhed/