[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR305.1]

[Page 552]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 305--GRANTS FOR PUBLIC WORKS AND DEVELOPMENT FACILITIES--Table of Contents
 
                           Subpart A--General
 
Sec. 305.1  Purpose and scope.


    The purpose of Public Works and Development Facilities grants is to 
help the Nation's distressed communities revitalize and expand their 
physical and economic infrastructure and thereby provide support for the 
creation or retention of jobs for area residents by helping eligible 
recipients with their efforts to promote the economic development of 
distressed areas. The primary focus is on the creation of new, or the 
retention of existing, long-term private sector job opportunities in 
communities experiencing significant economic distress as evidenced by 
high unemployment, low income, or a special need arising from actual or 
threatened severe unemployment or severe changes in local economic 
conditions. These grants are intended to help communities achieve 
sustainable economic development by developing and expanding new and 
existing public works and other infrastructure facilities that will help 
generate long-term jobs and economic growth, improve economic conditions 
or otherwise enhance and promote the economic recovery of the area.