Projects that qualify as a “small business,” meaning a “small business concern” as defined by section 3(a) of the Small Business Act (15 U.S.C. 632(a)) and implemented by the Small Business Administration under 13 CFR part 121, or any successor provisions.

Under the CIP and EDP, the term “Area Median Income” or “AMI” is the median income for the county as published by HUD for a family of four in the year the application is dated.

A brownfield is a property for which expansion, redevelopment, or reuse may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant.

A community that developed a strategic plan and applied for designation by either the Secretary of HUD or the Secretary of the USDA as an Empowerment Zone or Enterprise Community but was designated a Champion Community.

Generally, a program that designates counties as being negatively affected by NAFTA based on job losses and the unemployment rate of the county; find more information about CAIP here.

Commercial, industrial, manufacturing, social service, and public facility projects and activities; and Public or private infrastructure projects, such as roads, utilities, and sewers.

HUD-designated areas awarded federal funds along with various tax benefits as established in 1993 under the Federal Omnibus Budget Reconciliation Act; eligible Empowerment Zone projects must open new businesses, expand existing ones, or hire local residents.

For CIP:

• A neighborhood with a median income at or below 80 percent of AMI; or,

• A Champion Community, Empowerment Zone, or Enterprise Community as designated by the Secretary of the USDA or HUD (as applicable); or,

• An Indian area, as defined by the Native American Housing Assistance and Self-Determination Act of 1996, an Alaskan Native Village, or a Native Hawaiian Home Land.

For EDP:

• A rural neighborhood with a median income at or below 115 percent of AMI for a family of four or an urban neighborhood with a median income at or below 100 percent of AMI; or,

• A Champion Community, Empowerment Zone, or Enterprise Community as defined by the Secretary of the USDA or HUD (as applicable); or,

• An Indian area, as defined by the Native American Housing Assistance and Self-Determination Act of 1996, an Alaskan Native Village, or a Native Hawaiian Home Land; or,

• An area and property eligible for a Brownfield Tax Credit; or,

• An area affected by a military base closing that is a “community in the vicinity of the installation” as defined by the Department of Defense at 32 CFR part 176; or,

• A designated community under the Community Adjustment and Investment Program as defined under 22 U.S.C. 290m-2; or,

• A Federally-declared disaster area; or,

• A state-declared disaster area or other area that qualifies for assistance under another Federal- or state-targeted economic development program approved by the Federal Housing Finance Agency.

Housing Projects

(CIP only)

Projects or activities that involve the purchase, construction, rehabilitation, refinancing of (subject to §1295.5(c) of the Regulation), or predevelopment for:

• Individual owner-occupied housing units, each of which is purchased or owned by a family with an income at or below 115 percent of AMI for a family of four; or,

• Projects involving multiple units of owner-occupied housing in which at least 51 percent of the units are owned or are intended to be purchased by families with incomes at or below 115 percent of AMI for a family of four; or,

• Rental housing where at least 51 percent of the units in the project are occupied by, or the rents are affordable to, families with incomes at or below 115 percent of AMI for a family of four; or,

• Manufactured housing parks where:

• At least 51 percent of the units in the project are occupied by, or the rents are affordable to, families with incomes at or below 115 percent of AMI for a family of four; or,

• The project is located in a neighborhood with a median income at or below 115 percent of AMI for a family of four.

• The annual salaries for at least 51 percent of the permanent full- and part-time jobs, computed on a full-time equivalent basis, created or retained by the project, other than construction jobs, are at or below the targeted income levels; or,

• At least 51 percent of the families who otherwise benefit from (other than through employment), or are provided services by, the project have incomes at or below the targeted income level.

Reminder: The targeted income levels are 80 percent of AMI for economic development projects funded under the CIP, 115 percent of AMI for rural EDP projects, and 100 percent of AMI for urban EDP projects.

CICA-eligible loans closed within three months prior to receiving the CICA funding

• A unit of general local government with a population of 25,000 or less; or,

• An unincorporated area outside a Metropolitan Statistical Area (MSA); or,

• An unincorporated area within an MSA that qualifies for housing or economic development assistance from the USDA.

“Small business” / “small business concern” is defined by Section 3(a) of the Small Business Act (15 U.S.C. 632(a)) and implemented by the Small Business Administration under 13 CFR part 121, or any successor provisions.

For Advances provided under the CIP, “targeted income level” is defined as follows:

• For economic development projects - incomes at or below 80 percent of AMI for the area; or,

• For housing projects - incomes at or below 115 percent of AMI for a family of four.

For Advances provided under the EDP, “targeted income level” is defined as follows:

• For rural economic development projects - incomes at or below 115 percent of AMI for a family of four or the area; or,

• For urban economic development projects - incomes at or below 100 percent of AMI for a family of four or the area.

• A unit of general local government with a population of more than 25,000; or,

• An unincorporated area within an MSA that does not qualify for housing or economic development assistance from the USDA.