RURAL HOUSING LOAN
Let us here at Fountain City Finance see if you qualify for any special
Rural Housing Loan
RURAL COMMUNITY DEVELOPMENT INITIATIVE
The Rural Community Development Initiative (RCDI) program provides technical assistance and training funds to qualified intermediary organizations to develop their capacity to undertake housing, community facilities, and community and economic development projects in rural areas.
The $6,256,000 in RCDI grant funds are available to intermediaries and have a dollar for dollar matching fund requirement, intended to double the impact of the grants. Qualified organizations can be public or private (including tribal organizations) that have been legally organized for at least three years and have experience working with eligible recipients. Recipients of assistance from the intermediary can be non-profit organizations, low-income communities, or federally recognized tribes.
Key program points are:
- The purpose of this initiative is to provide a program of technical assistance to recipients to develop or increase their capacity to undertake projects in the areas of housing, community facilities, and community and economic development in rural areas.
- The RCDI grant, which has a dollar-for-dollar matching funds requirement, is made to an intermediary. The intermediary provides a program of technical assistance to recipients to build their capacity and ability to undertake projects related to housing, community facilities, and community and economic development in rural areas.
- The intermediary can be a private or public organization, including tribal, that has been legally organized a minimum of 3 years and has experience working with the recipients eligible for this program.
- The recipients can be nonprofit organizations, low-income communities, or federally recognized tribes, based on the definitions in the Notice of Funds Availability (NOFA). Recipients must be located in eligible rural areas, as defined in the NOFA.
- Matching funds must be in the form of cash or confirmed funding commitments and be at least equal to the grant amount. In-kind contributions cannot be used as matching funds.