Appendix A: The Administration's FY2000 Budget Highlights For Cities and Suburban Communities
The Administration's FY2000 budget includes a range of initiatives to capitalize on today's favorable conditions for tapping new markets, to anchor the positive trends in central cities, and to help cities, suburbs and metropolitan regions address remaining challenges.
U.S. Department of Housing and Urban Development
America's Private Investment Companies (APIC). $37 million in credit subsidy to cover the cost of providing Federal guarantees on $1 billion in private loans made through APICs. These loans will leverage an additional $500 million in private equity capital for new private investment companies that invest in large-scale businesses and distressed areas.
Community Empowerment Fund/CEF Trust. Combine $125 million in Economic Development Initiative grants with an estimated $625 million in Section 108 guaranteed private loans to ensure local governments have the public capital they need to support critical business investment and job creation projects in distressed communities, with special priority going to Welfare-to-Work Targeted Job Creation and connecting central cities to areas of regional economic growth. The CEF Trust will receive up to $25 million to pool loans and pave the way for a fully private secondary market for economic development loans to emerge.
Empowerment Zone and Enterprise Community (EZ/EC) Initiative. Provide guaranteed funding for 10 years for a total commitment of $1.6 billion for EZs and ECs, including $50 million for a Regional Empowerment Zone Initiative.
Community Development Block Grants (CDBG). $4.775 billion for this highly flexible tool for assisting cities, towns and States to meet local community development priorities and objectives.
Brownfields Redevelopment. $50 million to redevelop abandoned and underused commercial and industrial sites in partnership with the U.S. Environmental Protection Agency.
Regional Connections. $50 million in FY2000 to fund partnerships to develop and implement locally-driven smarter growth strategies across jurisdictional lines.
Redevelopment of Abandoned Buildings Initiative. $50 million in competitive grants to local governments to remove abandoned buildings and promote new development.
HOME Investment Partnership Program (HOME). $1.6 billion to work through local governments to finance the construction and rehabilitation of multifamily rental housing, provide tenant based assistance, improve housing for current owners, and assist new homebuyers through acquisition, construction and rehabilitation.
Homeownership Zones. $25 million as a set-aside in the CDBG program to fund large scale homeownership projects in targeted areas.
100,000 Vouchers/Section 8 Rental Assistance for Needy Families. $10.6 billion in new budget authority for HUD to renew existing Section 8 assistance contracts covering 2.4 million rental units, and $580 million in increased funding for 100,000 new Section 8 vouchers for extremely-low-income frail elderly (15,000 vouchers), the homeless (18,000 vouchers), welfare-to-work (25,000 vouchers), and housing authorities (42,000 vouchers) to help ease lengthy Section 8 waiting lists throughout the country.
HOPE VI and Public Housing. $625 million for innovative and comprehensive HOPE VI approaches to address the problems of severely distressed public housing. In addition, $3 billion in operating funds and $2.55 billion in capital funds for approximately 3,200 public housing authorities with 1.2 million units under their management.
Continuum-of-Care Homeless Assistance. $1.13 billion to help localities address homelessness through initiatives that help people with a full range of needs, from emergency shelter to preparing for jobs and moving to permanent housing.
Housing for Older Americans. $750 million for programs including the Section 202 elderly housing program, enabling it to expand housing available for unserved elderly by an estimated 5,790 new units.
YouthBuild. $75 million to offer disadvantaged young adults the opportunity for an education and employment skills by rehabilitating and building housing in their communities for low-income and homeless people.
U.S. Department of the Treasury
New Markets Tax Credit. A new tax credit to help spur $6 billion in private investment for business growth in low- and moderate-income communities.
Community Development Financial Institutions (CDFI) Fund. $125 million, a $30 million increase, for community development banks, credit unions, venture capital funds, microenterprise loan funds and similar institutions which help to finance home mortgages, community facilities, commercial development, small businesses, housing and related development in low-income areas.
BusinessLINC. A new partnership between the Federal Government and America's business community to encourage large businesses to work with small business owners and entrepreneurs, especially in central cities and rural areas.
Low-Income Housing Tax Credit. $1.7 billion over 5 years to increase the cap on the housing tax credits and restore their value to 1986 levels, thus enabling the credit to create an additional 150,000 to 180,000 new rental housing units over the next 5 years.
U.S. Department of Education
Adult Education and Family Literacy. $575 million for adult education, an increase of $190 million over FY99, to assist adults in becoming literate and ensuring they have the skills for today's workforce.
New Classrooms and Modernized Schools. $3.7 billion over 5 years in Federal tax credits to pay interest on nearly $25 billion in bonds to build and renovate public schools.
New Teachers and Smaller Class Size. $1.4 billion as the second installment of the Administration's plan to help schools recruit, hire, and train 100,000 new teachers by 2005 and reduce class size in the early grades.
Teaching Technology. $620 million for a series of initiatives to help schools and teachers integrate new technologies into the classroom.
E-rate. $1.3 billion will be made available through the education rate program created under the Telecommunications Act of 1996 to provide discounts for schools and libraries to buy high-speed Internet access, internal wiring, and telecommunications services.
21st Century Learning Center Program. $600 million to help 1.1 million children each year participate in after-school and summer school programs.
U.S. Department of Justice
21st Century Policing Initiative. $1.28 billion initiative to fight crime, put more police on the street, increase the number of community prosecutors, and help State and local enforcement agencies use new crime-fighting technologies.
U.S. Department of Transportation
Community Transportation Choices. $6.1 billion for public transit, $2.4 billion to implement innovative community-based transportation programs, and $1.8 billion to help communities with congestion and traffic problems meet the requirements of the Clean Air Act.
Job Access and Reverse Commute Program. $150 million to help communities implement new or expanded transportation services to help low-income people get to work.
U.S. Small Business Administration
SBICs Targeted to New Markets and New Markets Venture Capital Firms. Create small business investment companies (SBICs) to provide equity and debt capital to small businesses in low and moderate income areas. NMVCs would target smaller start-ups with capital as well as technical assistance.
Microenterprise Lending and Technical Assistance. $83 million -- a 159-percent increase -- for a range of programs that provide access to capital, financial services, and training to entrepreneurs who are traditionally bypassed by the mainstream financial sector.
U.S. Department of Labor
Welfare-to-Work. $1 billion to help welfare recipients and low-income fathers with the greatest challenges to employment move to lasting jobs and succeed in the workforce.
Dislocated Worker Program. $1.6 billion to provide training and employment services to 840,000 displaced workers.
Employment Service and One-Stop Career Centers. Provide $1 billion to put the Employment Service on an expanded path to serve 1.4 million displaced workers within 5 years and expand the career centers that give unemployed people job search information and assistance.
Youth Opportunity Grants. $250 million to address the special challenges of out-of-school youth, particularly in central cities with high unemployment.
Right-Track Partnerships. A new $100 million initiative to promote innovative partnerships between schools, employers, and community-based organizations to reduce high school drop out rates, improve high school achievement and enhance post secondary education and career opportunities among economically disadvantaged and limited-English-proficient youth.
Job Corps. Skill training, academic, and support services in a structured residential setting for 70,000 very disadvantaged youth.
GEAR-UP for College. $240 million to enhance partnerships between high-poverty middle or junior high schools and colleges to help 381,000 low-income children prepare for and enroll in college.
U.S. Department of Health and Human Services
Child Care and Development Block Grant. $4.5 billion, an increase of $1.2 billion, to States to operate child care subsidy programs and improve the quality and availability of care.
Child and Dependent Care Tax Credit. $5 billion over 5 years to expand the tax credit for working families paying for child care.
Head Start. $5.267 billion, a $607 million increase, for the Nation's premier early childhood development program.
U.S. Environmental Protection Agency
Better America Bonds. $700 million in tax credits over 5 years to support a new financing tool for State and local governments to clean up abandoned industrial sites, preserve green space, create or restore urban parks and protect water quality. The initiative is designed to generate $9.5 billion in bond authority over 5 years and is administered jointly with the Department of the Treasury.
U.S. Department of the Interior
Lands Legacy Initiative. $1 billion to protect and preserve the natural environment, including full funding for the Land and Water Conservation Fund; open space planning grants to help State, regional, and local governments develop smart growth strategies; land conservation grants to acquire land and easements for open spaces, greenways, outdoor recreation, wildlife habitat, and coastal wetlands; and restoration of urban parks.
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