The economic recovery act provides for a variety of grants.
The American Recovery and Reinvestment Act of 2009 was passed by Congress at the urging of President Barack Obama who signed the bill into law four days after its passage. The bill sought to encourage investment and growth to save existing jobs and create new jobs. The bill provided for over $700 billion in federal funds toward this effort. Much of this money was allocated in the form of federal stimulus package grants.
EDA Recovery Act Funding
The Economic Development Association (EDA) Recovery Act Funding provides funding to state, county and municipal governments as well as 501(c)(3) nonprofits and private higher learning institutions through the U.S. Department of Commerce. The grants exist for economically stressed communities in both rural and urban settings. Evidence of distress includes a high rate of business failures, high unemployment, low incomes, plant closures and reduced tax bases. The EDA provides grants for communities to create jobs through encouraging the creation of new businesses and the expansion of old ones.
Assisted Housing Stability and Energy and Green Retrofit
The Assisted Housing Stability and Energy and Green Retrofit is a grant provided by the economic stimulus package through the U.S. Department of Housing and Urban Development (HUD). The money allows people already receiving housing assistance to receive grants to make their houses more energy efficient. HUD makes assessments of properties to determine which housing receives grants and how much the grants are for. The property owner is required to spend the full amount of the grant within two years.
Rural Business Enterprise Grant
The U.S. Department of Agriculture (USDA) offers the Rural Business Enterprise Grant. These grants exist for public institutions and federally recognized nonprofits. Recipients must serve rural communities, defined as communities smaller than 50,000 residents and outside of urbanized areas. Grants go toward aiding rural communities through technical assistance to municipal governments, training development and public transportation. Organizations seeking the Rural Business Enterprise Grant competes against one another for grant money according to efficiency criteria established by the USDA. Recipients of the grant must have employment practices in compliance with the Davis-Bacon Act, which requires that employers pay a prevailing wage, and "Buy America" requirements.
TSA Advanced Surveillance Program
The federal stimulus package provides for grants for the Transportation Security Administration (TSA) to conduct advanced surveillance. Advanced surveillance programs eligible for grant funding include the inspection and maintenance of existing surveillance equipment and infrastructure, the enforcement of existing security procedures and oversight to ensure that such procedures are being enacted properly. The stimulus bill earmarked $1 billion specifically for the TSA's explosives detection systems in both checked baggage and at airport checkpoints.
Tags: Business Enterprise, Business Enterprise Grant, Enterprise Grant, Rural Business, Rural Business Enterprise
