What are the CDBG national objectives?

The three national objectives are: Benefit to low- and moderate- income (LMI) persons; Aid in the prevention or elimination of slums or blight; and Meet a need having a particular urgency (referred to as urgent need).

What is a national objective?

The aims, derived from national goals and interests, toward which a national policy or strategy is directed and efforts and resources of the nation are applied. See also military objective. Dictionary of Military and Associated Terms.

What is Low Moderate Income LMI limited clientele national objective criteria?

A Low-to-Moderate Income Limited Clientele (LMC) activity provides benefits to a specific group of persons rather than everyone in a defined service area. In either case, at least 51 percent of the beneficiaries of the activity must be LMI persons.

What is a LMI area?

Assisting low- or moderate-income geographies and individuals is a primary focus of CRA. The collective income group is often abbreviated “LMI” when describing both the individuals and areas together. Low-income individuals have an annualized family income of less than 50% of the HUD area median income.

What are the social objectives?

A social objective is a statement that details a specific desired outcome of a project that is related to the interaction of the individuals, groups, and institutions within a society. Often our social objective is related to improving human wellbeing.

What is LMI income?

The collective income group is often abbreviated “LMI” when describing both the individuals and areas together. Low-income individuals have an annualized family income of less than 50% of the HUD area median income. Median incomes for every county in the United States can be found on HUD’s website.

Do you have to pay back a CDBG grant?

If you are not able to meet a National Objective, you would be required to repay the CDBG investment in the property as it would not have qualified as a CDBG-funded project.

What are the national objectives of the CDBG?

The authorizing statute of the CDBG program requires that each activity funded, except for program administration and planning activities, must meet one of three national objectives. The three national objectives are: Benefit to low- and moderate- income (LMI) persons; Aid in the prevention or elimination of slums or blight; and

What is the Guide to national objectives and eligible?

The updated guide provides information on national objectives and eligible activities for the State Community Development Block Grant (CDBG) Program. It also provides an overview of the Housing and Community Development Act of 1974 (HCDA). Appendix A: The Housing and Community Development Act of 1974 (HCDA) Eligible Activities for States

What are the regulations for selling CDBG loans?

Appendix H: Selling or Securitizing Community Development Block Grant (CDBG) – Funded Loans using the Section 108 Program and Other Secondary Markets Appendix J: Code of Federal Regulations, Title 24 570