Sec. 401. Rural community development initiative
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Subtitle E of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 2009 et seq. ) is amended by adding at the end the following: In this section: The term eligible entity means— a private, nonprofit community-based housing or community development organization; a rural community; or a federally recognized Indian Tribe. The term eligible intermediary means a qualified— private, nonprofit organization; or public organization. The Secretary shall establish a Rural Community Development Initiative, under which the Secretary shall provide grants to eligible intermediaries to carry out programs to provide financial and technical assistance to eligible entities to develop the capacity and ability of eligible entities to carry out projects to improve housing, community facilities, and community and economic development projects in rural areas.
The amount of a grant provided to an eligible intermediary under this section shall be not more than $250,000. An eligible intermediary receiving a grant under this section shall provide matching funds from other sources, including Federal funds for related activities, in an amount not less than the amount of the grant. The Secretary may waive paragraph
(1)with respect to a project that would be carried out in a persistently poor rural region, as determined by the Secretary. .
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Sec. 401
Rural community development initiative
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