ABSTRACT

Economic Development Administration: A Review of Elements of Its Statutory History [June 3, 2011]   [open pdf - 260KB]

From the Summary: "As the 112th Congress considers legislation reauthorizing the Public Works and Economic Development Act of 1965 (PWEDA; P.L. [Public Law] 89-136), which created the Economic Development Administration (EDA) and its programs, the PWEDA's statutory evolution may inform Congress in its deliberation. […] As the programs of EDA evolved, Congress enacted legislation that standardized matching fund requirements among programs, simplified the application process, encouraged regional cooperation, established performance measures, and provided additional performance-based funding to grant recipients. The 1998 amendments standardized the federal cost share at 50% of a project's cost, but allowed EDA to provide supplemental assistance to increase the EDA contribution to no more than 80% of a project's cost. The 2004 amendments allowed EDA to waive completely the cost share requirements based on an EDA finding of insufficient taxing or borrowing capacity. In an effort to encourage regional cooperation, Congress conditioned the receipt of public works and economic adjustment assistance on the development and implementation of a Comprehensive Economic Development Strategy (CEDS) and required each grantee's CEDS to be consistent with local and district plans. Congress also directed EDA to award additional funds for outstanding performance in the execution of grant activities. Most recently, with the passage of American Recovery and Reinvestment Act (ARRA; P.L. 111-5), Congress returned to the practice of using EDA assistance as a countercyclical tool. This report will be updated as events warrant."

Report Number:
CRS Report for Congress, R41241
Author:
Publisher:
Date:
2011-06-03
Copyright:
Public Domain
Retrieved From:
Via E-mail
Format:
pdf
Media Type:
application/pdf
URL:
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