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The Community Enhancement and Economic Development Loan Program (CEED) is the State of Indiana’s loan program under the Section 108 Loan Guarantee Program (24 CFR 570, subpart M),. CEED provides communities with a source of loan financing for economic development, housing rehabilitation, public facilities, and other large-scale projects.
Eligible applicants include all non-entitlement Local Units of Government (including Counties) in Indiana. Funds may be used by the Local Unit of Government or lent to another public or private entity (e.g. for profit or nonprofit housing developer, an operating business) that will undertake an eligible activity.
Activities eligible for CEED financing include:
• Economic development activities eligible under CDBG;
• Machinery and Equipment;
• Acquisition of improved or unimproved real property in fee or by long-term lease, including acquisition for economic development purposes;
• Site preparation, including construction, reconstruction, installation of public and other site improvements, utilities or facilities (other than buildings), or remediation of properties with known or suspected environmental contamination;
• Clearance, demolition, and removal, including movement of structures to other sites and remediation of properties with known or suspected environmental contamination of buildings and improvements on real property acquired or rehabilitated;
• Payment of interest on the guaranteed loan and issuance costs of public offerings; and
• Payment of issuance, underwriting, servicing, trust administration and other costs associated with private sector financing of debt obligations.
CEED Proforma - must be completed and submitted with application