An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Community Development Financial Institution (CDFI)

A specialized financial organization, certified by the U.S. Treasury, that provides financial products and services to low-income people and in economically distressed communities.

Distressed Community

An area facing significant economic hardship, often characterized by low income levels, high poverty rates, or high unemployment, as defined by specific government criteria.

High Opportunity Area

A neighborhood that offers residents better access to resources like good jobs, quality schools, and healthcare, typically as defined by federal housing regulations.

Emerging Developer

A real estate developer who has limited experience in the field, limited money or assets, and may be newer to the industry.

Competitive Grants

Government funding awarded to eligible organizations based on the quality of their applications and their ability to meet specific program goals, rather than as an automatic entitlement.

Predevelopment Loans

Money lent to developers to cover initial costs before a construction project formally begins, such as feasibility studies, architectural plans, permits, and site surveys.