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Economic Development

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The three pillars for neighborhood revitalization, sustainability, and resiliency are human capital, physical capital, and fiscal capital. There are greater demands than ever for communities to invest in education, job training, infrastructure, housing, economic development, and public services at a time when federal, state, and local resources are dwindling. At the same time, funders are demanding greater accountability and transparency through outcome-based performance creating greater tension on diminished resources. TDA is uniquely qualified to help local communities weather the tides of change. 

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A nationally recognized expert in housing, community, and economic development, TDA has assisted state and local governments and their partners plan and develop community, economic development, and neighborhood revitalization programs for over two decades. Our team is intimately familiar with recent U.S. Department of Housing and Urban Development (HUD) changes and can help grantees comply without losing the goal of comprehensive neighborhood revitalization and economic growth.  TDA can maximize a community’s use of all three sources of capital to achieve sustainability and resiliency.

 

TDA’s team can address these key program areas: planning and program design, policies and procedures, project implementation, monitoring and compliance, as well as many others.

Planning/Program Design

TDA can assist communities to plan comprehensive economic development strategies, complete Neighborhood Revitalization Strategy Area applications, package Section 108 loan applications, develop microenterprise and peer lending programs, and develop public services strategies to address job creation, income maintenance, and an enhanced quality of life for community residents.

 

  • Analyzing local economic development conditions to prepare comprehensive job creation strategies

  • Assisting in selecting target communities and developing Neighborhood Revitalization Strategy Area applications

  • Financial analysis, deal structuring, packaging, and assistance in submitting Section 108 loan packages

  • Developing lending policies and practices for microenterprise and peer lending programs

  • Assisting communities in developing strategies to enhance job creation, training, and life skills for citizens

Monitoring & Compliance

Accountability and success must be measured in order to guarantee compliance with applicable requirements while being able to report to citizens that their quality of life has improved as investments of fiscal and non-fiscal capital have been spent well and transparently.

 

  • Providing training in monitoring and compliance to apply HUD guidelines for greater accountability

  • Developing tools and techniques for grantees to determine the fiscal soundness of subrecipients and developers

  • Developing tools and techniques to determine the risk of loans and physical investments to establish the need for monitoring

  • Developing criteria for measuring the success of non-monetary goals, such as job creation and leverage

Policy & Procedures

Well-designed economic development programs, especially those that have lending, require detailed policies and procedures to protect a community’s physical and fiscal portfolio. TDA understands what HUD and prudent lenders expect. We provide underwriting and deal structuring assistance, and we know how to ensure the coordination of all parties necessary to make a deal feasible and sustainable.

 

  • Assisting in the development of policies, practices and procedures for local economic development programs

  • Assisting in the development of job descriptions and announcements for community and economic development staff

  • Assisting in the training of economic development staff including financial feasibility, underwriting, and deal structuring

  • Analyzing proposed projects, whether for the Community Development Block Grant (CDBG) program or economic development, for compliance with HUD requirements

  • Under contract, TDA can serve as a project underwriter for a community with limited staff resources

Project Implementation

TDA understands the need for responsible community and economic development project selection and accountability for HUD grantees large and small. Our team has extensive experience in project selection, responsible procurement, compliance with federal crosscutting regulations, and reporting requirements.

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  • Assisting in the development of criteria for the selection of responsible and compliant projects

  • Developing the necessary policies, procedures, and practices to comply with federal procurement standards

  • Developing the necessary financial management policies, procedures, and practices to comply with HUD and the Council on Financial Assistance Reform (“COFAR”)

  • Assisting local staff in compliance with Section 3, Davis-Bacon, Fair Housing and Equal Opportunity (FHEO), and other cross-cutting federal requirements

  • Training local staff in all federal cross-cutting requirements, including federal procurement standards

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