§2009n Rural Community Development Initiative

Summary

Creates a Rural Community Development Initiative that must give grants, when funds are available, to eligible intermediaries. Eligible intermediaries are qualified private nonprofit organizations or public organizations. Eligible entities are private nonprofit community housing or development groups, rural communities, and federally recognized Indian tribes. Grants must help those entities get money and technical help to plan and carry out housing, community facility, and local economic development projects in rural areas. Each grant can be no more than $500,000. An intermediary that gets a grant must provide matching funds at least equal to the grant, but the Secretary may waive that match for projects in persistently poor rural regions as the Secretary determines.