04 NCAC 01K .0101. PROGRAM PURPOSE AND OBJECTIVE

The purposes and objectives of the North Carolina Community Development Block Grant program are set out in full in the North Carolina Administrative Codes Title 4, Subchapter l9L, as promulgated by the Division of Community Assistance of the Department of  Commerce.  While the Division of Community Assistance is the lead agency for the Community Development Block Grant Program, the Commerce Finance Center is responsible for the administration of activities conducted under the Economic Development section of that program.  Economic Development projects and grant activities consist of projects which directly support the creation or retention of jobs, principally for persons of low and moderate family income (LMI) status.  Sixty percent of jobs created shall be filled by persons with LMI status prior to being hired by the Employer, or who are documented as having LMI status at the time of project application in the case of retained jobs.  If at any time during the grant period the percentage of jobs held by persons who qualified as LMI when hired drops below 51% of the jobs retained or created, the beneficiary or beneficiaries and the grantee shall be directly liable for repayment of the grant. All CDBG expenditures which directly assist participating private businesses must be provided as loan funds, and be repaid under terms established at the time the program funds are awarded to the local government grantee. Other program income, or a portion of other program income, such as connection fees, acreage development fees, or consideration received for the sale of public utilities to private concerns or regulated utilities shall be returned to the CDBG Economic Development Program and used to finance other such Economic Development projects.

 

History Note:        Filed as a Temporary Rule Eff. July 20, 1992 for a period of 180 days or until the permanent rule becomes effective, whichever is sooner;

Authority G.S. 143B-431; 24 C.F.R. 570.489; 24 C.F.R. 570.494; 42 U.S.C.A. 5301;

Eff. December 1, 1992;

Amended Eff. April 1, 1999.