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Economic Development (31 - 40 of 3,033 items) in Custom Date Range
Flood Insurance: Forgone Premiums Cannot Be Measured and FEMA Should Validate and Monitor Data System Changes
GAO-15-111: Published: Dec 11, 2014. Publicly Released: Dec 11, 2014.
The actual forgone premiums—the difference between subsidized and full-risk premiums—to the National Flood Insurance Program (NFIP) due to subsidies cannot be measured. The Federal Emergency Management Agency (FEMA) does not collect flood risk information for all subsidized policies, which is needed to calculate their full-risk premium rates. GAO recommended in July 2013 that FEMA develop and...
Small Business Administration: Additional Steps Needed to Help Ensure More Timely Disaster Assistance
GAO-14-760: Published: Sep 29, 2014. Publicly Released: Oct 23, 2014.
Following Hurricane Sandy, the Small Business Administration (SBA) did not meet its timeliness goal for processing business loan applications. From application receipt to loan decision, SBA took an average of 45 days to process physical business disaster loans and 38 days for economic injury loans, both of which exceed SBA's 21-day application processing goal. SBA said it was challenged by an unex...
Army Corps of Engineers: The Corps Needs to Take Steps to Identify All Projects and Studies Eligible for Deauthorization
GAO-14-699: Published: Aug 21, 2014. Publicly Released: Sep 22, 2014.
The U.S. Army Corps of Engineers' (Corps) backlog list of authorized water resources construction projects is incomplete because the agency does not track all authorized projects and the list does not include studies. Specifically, GAO found that the backlog does not include some projects that were authorized but were not appropriated funds. Corps headquarters officials said that the agency does n...
Bureau of Reclamation: Availability of Information on Repayment of Water Project Construction Costs Could Be Better Promoted
GAO-14-764: Published: Sep 8, 2014. Publicly Released: Sep 9, 2014.
The Department of the Interior's Bureau of Reclamation collects information on water project construction costs and the status of repayment by irrigation districts—entities that have entered into contracts with the agency to receive project water for irrigation purposes—but has not publicly reported repayment information since the 1980s. Reclamation's data on water project construction cost re...
New Markets Tax Credit: Better Controls and Data Are Needed to Ensure Effectiveness
GAO-14-500: Published: Jul 10, 2014. Publicly Released: Aug 11, 2014.
The financial structures of New Markets Tax Credit (NMTC) investments have become more complex and less transparent over time. The increased complexity is due, in part, to combining the NMTC with other federal, state, and local government funds. Based on GAO's survey of Community Development Entities (CDEs) an estimated 62 percent of NMTC projects received other federal, state, or local government...
National Flood Insurance Program: Additional Guidance on Building Requirements to Mitigate Agricultural Structures' Damage in High-Risk Areas Is Needed
GAO-14-583: Published: Jun 30, 2014. Publicly Released: Jul 29, 2014.
The effects of the National Flood Insurance Program's (NFIP) building requirements for elevating or flood-proofing agricultural structures in high-risk areas varied across selected communities, according to interviews GAO conducted with floodplain managers and farmers. Specifically:Floodplain managers and 12 farmers in selected rural communities with whom GAO spoke in Louisiana, North Carolina, an...
Federal Emergency Management Agency: Opportunities to Achieve Efficiencies and Strengthen Operations
GAO-14-687T: Published: Jul 24, 2014. Publicly Released: Jul 24, 2014.
GAO's recent and ongoing work examining the Federal Emergency Management Agency's (FEMA) administrative costs of providing disaster assistance highlights opportunities to increase efficiencies and potentially reduce these costs. In September 2012, GAO reported that FEMA's administrative costs for disaster assistance had doubled in size as a percentage of the overall cost of the disasters since fis...
Telecommunications: USDA Should Evaluate the Performance of the Rural Broadband Loan Program
GAO-14-471: Published: May 22, 2014. Publicly Released: Jun 23, 2014.
The U.S. Department of Agriculture (USDA) Rural Utilities Service (RUS) has approved 100 loans to geographically and demographically diverse areas through its Rural Broadband Access Loan and Loan Guarantee Program (“loan program”), though over 40 percent of these loans are no longer active. The geographic distribution of RUS loans is widespread, with broadband providers in 43 states having rec...
Recovery Act: USDA Should Include Broadband Program's Impact in Annual Performance Reports
GAO-14-511: Published: Jun 17, 2014. Publicly Released: Jun 17, 2014.
The Rural Utilities Service (RUS) expects most Recovery Act-funded Broadband Initiatives Program (BIP) projects will be completed by the June 2015 deadline and as approved, but RUS faces challenges given the large scope of the program. As of March 2014, approximately 14 percent (42 of 297) of BIP infrastructure projects were terminated for a variety of reasons according to RUS officials, such as f...
Community Development Capital Initiative: Status of the Program and Financial Health of Remaining Participants
GAO-14-579: Published: Jun 6, 2014. Publicly Released: Jun 6, 2014.
As of April 30, 2014, 82 percent of the Department of the Treasury's (Treasury) $570 million total investment in eligible banks and credit unions through the Community Development Capital Initiative (CDCI) was still outstanding. Sixteen institutions have exited the program, leaving 29 banks and 39 credit unions, respectively, in the program. Treasury had received repayments and investment income o...