Economic development (31 - 40 of 589 items)
New Markets Tax Credit: Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entities
GAO-09-795T: Published: Jun 18, 2009. Publicly Released: Jun 18, 2009.
The Community Development Financial Institutions (CDFI) Fund in the Department of the Treasury has awarded $21 billion of the $26 billion in New Markets Tax Credits (NMTC) authorized to be awarded to Community Development Entities (CDE) between 2001 and 2009. CDEs use the NMTC to make qualified investments in low-income communities. Recent congressional interest has focused on participation by min...
Public Transportation: New Starts Program Challenges and Preliminary Observations on Expediting Project Development
GAO-09-763T: Published: Jun 3, 2009. Publicly Released: Jun 3, 2009.
The New Starts program is an important source of new capital investment in mass transportation. As required by the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users, the Federal Transit Administration (FTA) must prioritize transit projects for funding by evaluating, rating, and recommending projects on the basis of specific financial commitment and project justif...
New Markets Tax Credit: Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entitities
GAO-09-536: Published: Apr 30, 2009. Publicly Released: Jun 1, 2009.
The Community Development Financial Institutions (CDFI) Fund in the Department of the Treasury has awarded $19.5 billion of the $26 billion in New Markets Tax Credits (NMTC) it is authorized to award through 2009 to encourage investment in low-income communities. The NMTC allows investors to claim a tax credit in exchange for investing in Community Development Entities (CDE) that reinvest the fund...
Rural Economic Development: Collaboration between SBA and USDA Could Be Improved
GAO-08-1123: Published: Sep 18, 2008. Publicly Released: Sep 18, 2008.
The Small Business Administration (SBA) and the Rural Development offices of the U.S. Department of Agriculture both work in rural areas to foster economic development by promoting entrepreneurship and community development. This report discusses (1) the complementary nature of some SBA and Rural Development programs and the extent to which it provides a rationale for the agencies to collaborate,...
HUD and Treasury Programs: More Information on Leverage Measures' Accuracy and Linkage to Program Goals Is Needed in Assessing Performance
GAO-08-136: Published: Jan 18, 2008. Publicly Released: Feb 19, 2008.
This is the second of two reports on the leveraging of federal funds in housing and community and economic development programs. Leveraging involves using a source of funds to attract other funds or combining multiple sources of funds. This report examines (1) the leverage measures and the transparency of the data and methods used to calculate them, and (2) the relevance of such measures in assess...
Small Business Administration: Preliminary Views on Increasing Collaboration with Department of Agriculture Rural Development Offices
GAO-08-278T: Published: Nov 14, 2007. Publicly Released: Nov 14, 2007.
The Small Business Administration (SBA) and Department of Agriculture (USDA) Rural Development offices share a mission of attending to underserved markets, promoting economic development, and improving the quality of life in America through the promotion of entrepreneurship and community development. In the past, these agencies have had cooperative working relationships to help manage their respec...
Economic Development: Formal Monitoring Approaches Needed to Help Ensure Compliance with Restrictions on Funding Employer Relocations
GAO-07-1005: Published: Sep 10, 2007. Publicly Released: Sep 12, 2007.
Congress imposed restrictions on some federal programs to prevent funding of business relocations. Congress expressed concerns about state and local governments using federal funds to attract jobs to one community at a loss of jobs to another and about compliance with relocation restrictions. This report (1) identifies large federal economic development programs that state and local governments ca...
Leveraging Federal Funds for Housing, Community, and Economic Development
GAO-07-768R: Published: May 25, 2007. Publicly Released: Jun 25, 2007.
Each year the federal government funds numerous affordable housing and community and economic development initiatives through an array of programs, such as the Department of Housing and Urban Development's (HUD) Section 108 Loan Guarantee (Section 108) program. Yet, the need for federal money to fund these initiatives has continued to grow, while the federal budget increasingly has been strained b...
Eminent Domain: Information about Its Uses and Effect on Property Owners and Communities Is Limited
GAO-07-28: Published: Nov 30, 2006. Publicly Released: Nov 30, 2006.
In the Transportation, Treasury, Housing and Urban Development, the Judiciary, the District of Columbia, and Independent Agencies Appropriations Act, 2006, Congress mandated that GAO conduct a nationwide study on the use of eminent domain by state and local governments. This report provides information on (1) the purposes for and extent to which eminent domain can be and has been used; (2) the pro...
Empowerment Zone and Enterprise Community Program: Improvements Occurred in Communities, but the Effect of the Program Is Unclear
GAO-06-727: Published: Sep 22, 2006. Publicly Released: Sep 22, 2006.
The Empowerment Zone/Enterprise Community (EZ/EC) program is one of the most recent large-scale federal effort intended to revitalize impoverished urban and rural communities. There have been three rounds of EZs and two rounds of ECs, all of which are scheduled to end no later than December 2009. The Community Renewal Tax Relief Act of 2000 mandated that GAO audit and report in 2004, 2007, and 201...