Harlem Business Alliance Inc

COMMUNITY ECONOMIC DEVELOPMENT (CED) PROGRAM

PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH TECHNICAL ASSISTANCE AWARDS TO BUILD THE CAPACITY OF COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) AND EMERGING CDFIS. PLANNED ACTIVITIES TECHNICAL ASSISTANCE MUST BE USED FOR THE FOLLOWING ELIGIBLE ACTIVITIES SUBJECT TO THE APPLICABLE PROVISIONS OF THE UNIFORM REQUIREMENTS COMPENSATION PERSONAL SERVICES, COMPENSATION FRINGE BENEFITS, PROFESSIONAL SERVICE COSTS, TRAVEL COSTS, TRAINING AND EDUCATION COSTS, EQUIPMENT, SUPPLIES, AND INCORPORATION COSTS (SPONSORING ENTITIES ONLY). END GOALS: THE GOAL OF THE TECHNICAL ASSISTANCE IS TO BUILD CERTIFIED AND EMERGING CDFI’S ORGANIZATIONAL CAPACITY TO SERVE ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: NOT APPLICABLE. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.

PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) AND EMERGING CDFIS. ACTIVITIES TO BE PERFORMED: TECHNICAL ASSISTANCE MUST BE USED FOR THE FOLLOWING ELIGIBLE ACTIVITIES SUBJECT TO THE APPLICABLE PROVISIONS OF THE UNIFORM REQUIREMENTS: COMPENSATION ? PERSONAL SERVICES, COMPENSATION ? FRINGE BENEFITS, PROFESSIONAL SERVICE COSTS, TRAVEL COSTS, TRAINING AND EDUCATION COSTS, EQUIPMENT, SUPPLIES, AND INCORPORATION COSTS (SPONSORING ENTITIES ONLY). END GOAL/EXPECTED OUTCOMES: THE GOAL OF THE TECHNICAL ASSISTANCE IS TO BUILD CERTIFIED AND EMERGING CDFI?S ORGANIZATIONAL CAPACITY TO SERVE ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW-INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. INTENDED BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENT ACTIVITIES: ONLY IN THE CASE WHERE A CDFI DEPOSITORY INSTITUTION HOLDING COMPANY APPLICANT INTENDS TO CARRY OUT THE ACTIVITIES OF AN AWARD THROUGH ITS SUBSIDIARY CDFI INSURED DEPOSITORY INSTITUTION, AS IDENTIFIED IN ITS ASSISTANCE AGREEMENT WITH THE CDFI FUND.

THE HARLEM BUSINESS ALLIANCE'S MISSION IS TO DEVELOP AND ENHANCE HARLEM'S ECONOMIC STATUS BY CREATING AN ENVIRONMENT THAT PRODUCES SUCCESSFUL ENTREPRENEURS AND CREATES JOBS FOR LOCAL RESIDENTS. THE PROJECT CONFORMS TO THE CNCS ECONOMIC DEVELOPMENT PROGRAM PRIORITY AREA AND IS A CAPACITY BUILDING ACTIVITY THAT WILL HELP TO LEVERAGE RESOURCES. THE RESEARCH AND HBA'S EXPERIENCE DEMONSTRATE THAT HELPING ASPIRING ENTREPRENEURS AND HELPING TO GROW AND SUSTAIN LOCAL BUSINESSES CAN PROVIDE A PATHWAY OUT OF POVERTY FOR HARLEM'S RESIDENTS AND CONTRIBUTE TO THE ECONOMIC HEALTH OF THE COMMUNITY. THE PROJECT GOAL IS TO HIRE A VISTA AS A FUND DEVELOPMENT ASSISTANT WHO WILL HELP TO INCREASE THE ORGANIZATION'S FUND-RAISING CAPABILITY IN ORDER TO CONTINUE TO MAINTAIN EXISTING PROGRAMS AND SERVICES AND GROW THE CAPACITY TO SERVE HARLEM'S LOWER INCOME CONSTITUENTS AND THE COMMUNITY. THE VISTA FOCUS WILL INVOLVE GRANT FUNDING FROM CORPORATE, FOUNDATION AND GOVERNMENT SOURCES WITH A PARTICULAR FOCUS ON THE SPECIAL PROGRAMS THAT TARGET LOW INCOME INDIVIDUALS AS WELL AS GENERAL OPERATING FUNDS; RESEARCHING OTHER POTENTIAL FUNDING AVENUES; AND DEVELOPING AND MAINTAINING A TRACKING SYSTEM FOR GRANT RELATED ACTIVITIES. THIS PROJECT WILL REQUIRE THE FULL TIME SERVICES OF ONE VISTA FOR ONE YEAR.