The Rural Housing and Economic Development (RHED) Program supports capacity building at the state and local level for rural housing and economic development and innovative housing and economic development activities in rural areas. The RHED Program is authorized by the Departments of Veteran's Affairs, Housing and Urban Development and Independent Agencies Appropriations Act of 1999 (Pub. L. 105-276). The Office of Rural Housing and Economic Development in HUD's Office of Community Planning and Development administers the program.
Funds made available under this program are awarded competitively on an annual basis through a selection process conducted by HUD.
This program is established to assist nonprofit organizations in rural communities across America. HUD defines rural in three ways:
Eligible applicants are local rural non-profits, community development corporations (CDCs), federally recognized Indian tribes, state housing finance agencies (HFAs), and state community and/or economic development agencies.
Possible activities include: preparation of plans, architectural drawings, acquisition of land and buildings, demolition, provision of infrastructure, purchase of materials and construction costs, use of local labor markets, job training and counseling for beneficiaries and financial services such as revolving loan funds and Individual Development Accounts or IDAs. Other possible activities include: homeownership and financial counseling, application of innovative construction methods; provision of financial assistance to homeowners, businesses, and developers; and the establishment of CDFIs, lines of credit, revolving loan funds, microenterprises, and small business incubators.
There are five rating factors that will be used to evaluate and rate your application. They are:
Please refer to the specific program Notice of Funding Availability (NOFA) for further clarification.