C2: Economic Opportunities
Enhance sustainability of communities by expanding economic opportunities. Other Information:
Communities cannot be viable places to live without economic resources. A key objective of HUD’s community and economic development
programs is to help improve economic conditions in distressed communities. Economic development is a key activity under the
CDBG program. Funded activities include job creation and retention, as well as education, training, and services that strengthen
the workforce. Grantees may also use CDBG funds to invest in infrastructure and housing improvements, which can spur further
economic growth. HUD, in consultation with grantees and other interested parties, has developed a performance measurement
framework for the formula grant programs (CDBG, HOME, HOPWA, and Emergency Shelter Grants) that will focus on three objectives,
one of which is creating economic opportunities. Through this framework, HUD will be able to measure the extent to which the
formula programs are supporting this strategic objective.HUD funds promote economic development even when that is not the
primary purpose. Section 3 of the Housing and Urban Development Act of l968 requires that when HUD provides financial assistance
to grantees in economically distressed areas, the resulting jobs, training, and contracts will be given to low- and very-low
income persons in those areas to the greatest extent feasible.
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