Summary

Description

There is a need for innovative and catalytic economic development and housing programs that create jobs through business development and expansion and expand the supply of affordable housing in rural areas. Through the Rural Innovation Fund (RIF), HUD is funding local rural nonprofit organizations, community development corporations, federally recognized Indian tribes, state housing finance agencies (HFAs), and state economic development and community development agencies (including consortia of such entities) with demonstrated capacity to undertake comprehensive projects that address the problems of concentrated rural housing distress and community poverty. HUD solicits applications for projects of sufficient scale and impact relative to the identified need to demonstrate a measurable improvement in the quality of life within the project area.