National Alliance of Community Economic Development Associations                      November 17, 2021

Federal News
Take Action: Urge Congress to Pass Build Back Better Act 

On Monday, President Biden signed the Infrastructure Investment and Jobs Act into law. The $1.2 trillion package will deliver $550 billion in new federal infrastructure investments in America's infrastructure over five years including bridges, roads, broadband, water, and energy systems.

While the passage of the infrastructure bill was historic, the Build Back Better Act including more than $150 billion in affordable housing investments was unfortunately pulled from the House floor. The $1.75 trillion legislation includes significant priorities for the NACEDA network, including $9.9 billion for the HOME Investment Partnerships Program, $3 billion for Community Restoration and Revitalization Fund, and the Neighborhood Homes Investment Act proving a new federal tax credit to support the construction and rehabilitation of single-family, owner-occupied homes in distressed communities. 

The House of Representatives may vote on the economic recovery package as early as this week. Contact your representatives in the House and your senators in the Senate today. Urge them to support the Build Back Better Act, especially the investments in housing and community development.

Fed Releases New Book: Investing in Rural ProsperityInvesting in Rural Prosperity Cover

The St. Louis Fed and the Federal Reserve Board of Governors propose a framework for advancing shared economic prosperity in their new book published yesterday, Investing in Rural Prosperity.

Authored by 79 people from 28 states representing every region of the country, the book provides examples of communities making progress and recommendations to help local, state, and national leaders rebuild stronger and more resilient rural communities that provide greater opportunities for all in good times and bad. The book was developed for practitioners, policymakers, funders, and researchers.

NACEDA NewsGrounding Values BannerBe Our Partner! National Study of Community-Based Organizations

Spearheaded by NACEDA in collaboration and conducted by the Urban Institute, the Grounding Values study will comprehensively examine the financial health and programs of local community-based development organizations across the United States. NACEDA is bringing together national, state, and regional leaders to advance the research in order to build and improve the systems that advance community prosperity. We invite you to join us as we collect comprehensive data to inform answers to some of our field’s most fundamental questions. Sign up here to become a partner on the Grounding Values research study. We will email findings to you as they become available and keep you posted on opportunities to make this study more comprehensive and effective. 

Member News 
SC Association and BLDG Memphis Awarded Community Navigator Grants 

Last week, the South Carolina Association for Community Economic Development (SCACED) and BLDG Memphis were awarded SBA Community Navigator Grants to break down barriers and resource gaps for minority business owners and entrepreneurs, including underserved women, people of color, veterans, and rural and low-income communities. 

“The depth and scope of the grant will have an immediate effect on minority-owned business development by deploying resources to minority entrepreneurs in an efficient, targeted manner,” said Bernie Mazyck, President & CEO of SCACED. “The SBA’s selection of SCACED as a hub for South Carolina represents a paradigm shift in how the Palmetto State is perceived as a land of opportunity for minority entrepreneurs.” Deveney Perry, Executive Director of BLDG Memphis also remarked, “BLDG Memphis’ member CDCs are trusted leaders in the community whom residents rely on for resources, technical expertise, and advocacy. CDCs understand that businesses are anchor institutions of neighborhoods, and consequently, local economies will grow as investments into neighborhood businesses are made and those businesses grow.” 

Funding & Job Opportunities

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