Fort Smith to get $899,621 in CDBG funds

Fort Smith is set to receive $899,621 in Community Development Block Grant funding as part of more than $22.34 million Arkansas will receive from the U.S. Department of Housing and Urban Development (HUD) to improve local communities through economic development initiatives, public infrastructure investments and rehabilitation of buildings and neighborhoods.

The Arkansas Economic Development Commission will receive $20,993,576 under HUD’s Community Development Block Grants (CDBG) program. West Memphis also will receive $453,055 under the CDBG program.

Funding under the CBDG program can be used to provide assistance to private and non-profit groups that promote economic development, rehabilitate public and private buildings, and improve public facilities including streets, water and sewer facilities, and neighborhood and recreation centers.
 
The Arkansas Economic Development Commission will distribute funds – based on applications – to cities and counties throughout Arkansas, and all awards for economic development must create or retain jobs. At least 51% of new jobs must go to persons of low and moderate income. Local officials will apply for investments that help them attract and retain businesses and create jobs.  
 
“This funding will provide sound investments that will help our local communities create jobs and grow our economy in Arkansas,” U.S. Sen. Blanche Lincoln, D-Ark., said in a statement. “With 100,000 Arkansans out of work, economic development initiatives like the ones supported by this funding are more important than ever.”