Other economic development objectives.

CFR · 2024-01-01 · US · Title 13

A Project that achieves any of the following community development or public policy goals is eligible if the CDC's overall portfolio of 504 loans, including the subject loan, meets or exceeds the CDC's required Job Opportunity average. Loan applications must indicate how the Project will meet the specified economic development objective. (a) Community Development goals: (1) Improving, diversifying or stabilizing the economy of the locality; (2) Stimulating other business development; (3) Bringing new income into the community; (4) Assisting manufacturing firms (North American Industry Classification System (NAICS), Sectors 31 “ 33); or (5) Assisting businesses in Labor Surplus Areas as defined by the Department of Labor. (b) Public Policy goals: (1) Revitalizing a business district of a community with a written revitalization or redevelopment plan; (2) Expansion of exports; (3) Expansion of small businesses owned and controlled by women as defined in section 29(a)(3) of the Act, 15 U.S.C. 656(a)(3); (4) Expansion of small businesses owned and controlled by veterans (especially service-disabled veterans) as defined in section 3(q) of the Act, 15 U.S.C. 632(q); (5) Expansion of minority enterprise development (see § 124.103(b) of this chapter for minority groups who qualify for this description); (6) Aiding rural development; (7) Increasing productivity and competitiveness (retooling, robotics, modernization, competition with imports); (8) Modernizing or upgrading facilities to

official document · source cfr-2024 · id 13:§ 120.862