PRIA, Government Policy, Made Personal

Summary

Defines key words used in this part. Community development corporation: a private nonprofit run by business, civic, and community leaders that mainly does low‑income housing or local economic projects for low‑income people. Local and private sector contribution: local money from banks, state or local governments, foundations, or nonprofits used only to help finance private businesses with these federal funds. Population‑losing community: a county with at least a 7% net population loss from April 1, 1980 to April 1, 1990 (Census). Private business enterprise: a company that makes products, offers services, or builds facilities and agrees to direct jobs from these investments to certain people. Target area: an area named in an application whose residents’ median income is no higher than the surrounding area’s median. Very low‑income community: a community where residents’ median income is 50% or less of the area median.

Title 34, §12211

Navy, Source: USLM XML via OLRC

As used in this part:

(1)Community development corporation

The term “community development corporation” means a private, nonprofit corporation whose board of directors is comprised of business, civic and community leaders, and whose principal purpose includes the provision of low-income housing or community economic development projects that primarily benefit low-income individuals and communities.

(2)Local and private sector contribution

The term “local and private sector contribution” means the funds available at the local level (by private financial institutions, State and local governments) or by any private philanthropic organization and private, nonprofit organizations that will be committed and used solely for the purpose of financing private business enterprises in conjunction with amounts provided under this part.

(3)Population-losing community

The term “population-losing community” means any county in which the net population loss is at least 7 percent from April 1, 1980 to April 1, 1990, as reported by the Bureau of the Census.

(4)Private business enterprise

The term “private business enterprise” means any business enterprise that is engaged in the manufacture of a product, provision of a service, construction or development of a facility, or that is involved in some other commercial, manufacturing or industrial activity, and that agrees to target job opportunities stemming from investments authorized under this part to certain individuals.

(5)Target area

The term “target area” means any area defined in an application for assistance under this part that has a population whose income does not exceed the median for the area within which the target area is located.

(6)Very low-income community

The term “very low-income community” means a community in which the median income of the residents of such community does not exceed 50 percent of the median income of the area.

Editorial Notes

Codification Section was formerly classified to section 13851 of Title 42, The Public Health and Welfare, prior to editorial reclassification and renumbering as this section.

§12211 Definitions

Summary

Title 34, §12211

Notes & Related Subsidiaries

Editorial Notes

Citations & Metadata