Local development districts and organizations

40 U.S.C. § 15505
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) Grants to Local Development Districts.—Subject to the requirements of this section, a Commission may make grants to a local development district to assist in the payment of development planning and administrative expenses. (b) Conditions for Grants.—(1) Maximum amount.—The amount of a grant awarded under this section may not exceed 80 percent of the administrative and planning expenses of the local development district receiving the grant. (2) Maximum period for state agencies.—In the case of a State agency certified as a local development district, a grant may not be awarded to the agency under this section for more than 3 fiscal years. (3) Local share.—The contributions of a local development district for administrative expenses may be in cash or in kind, fairly evaluated, including space, equipment, and services. (c) Duties of Local Development Districts.—A local development district shall—(1) operate as a lead organization serving multicounty areas in the region at the local level; (2) assist the Commission in carrying out outreach activities for local governments, community development groups, the business community, and the public; (3) serve as a liaison between State and local governments, nonprofit organizations (including community-based groups and educational institutions), the business community, and citizens; and (4) assist the individuals and entities described in paragraph (3) in identifying, assessing, and facilitating projects and programs to promote the economic development of the region.

Starting a business? Corpus forms LLCs in all 50 states and DC.