Open
Section 108 Program
Pennsylvania Department of Community & Economic Development
Who can apply
Loan Guarantees as security for federal loans Local governments that are not designated by HUD as urban counties or entitlement municipalities
About this opportunity
Section 108 enables states and local governments participating in the Community Development Block Grant (CDBG) program to obtain federally guaranteed loans to fund large economic development projects and undertake revitalization activities. Under Pennsylvania’s initiative to use Section 108 the loans are guaranteed by the Commonwealth, committing the use of future CDBG funds to pay off the loan in case of default.
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