Communities in urban and rural areas can apply for government grants to help with their revitalization efforts. Areas in need of assistance and that meet the requirements of the grantor will be considered. These grants do not have to be repaid as long as the applicants stick to the terms of the agreement.
HOPE VI Revitalization Grants Program
One of the grants communities can apply for is the HOPE VI Revitalization grant. The Department of Housing and Urban Development (HUD) sponsors funds for areas that demonstrate financial need in order to revitalize their communities. The grants can be used to destroy distressed properties, or to replace, build and rehabilitate public housing dwellings for low-income families. These revitalization projects are also meant to improve the well-being and safety of all residents in the area.
Community Facilities Loans and Grants
Communities that are in need of money to pay for revitalization projects in their area can apply for the Community Facilities Loans and Grants administered by the U.S. Department of Agriculture. These grants may be used to construct, expand, rehabilitate and renovate homes and buildings in distressed areas. Also these funds can be used for child care centers, assisted living programs, food centers, group homes, mental health facilities and homeless shelters. The beneficiaries, besides rural communities, can be farmers and ranchers. This program provides additional financing in the form of loans.
Rural Business Opportunity Grants
Rural areas can get a boost to their economic development by receiving the Rural Business Opportunity grant. The Department of Agriculture provides these grants to rural areas in need of technical assistance as well as to help businesses with training and planning support. Nonprofit organizations as well as Indian tribes in rural areas can apply for the grant.
- On the Farm image by mhiser from Fotolia.com