Neighborhood Economic Development Opportunities Program (NEDO)

Neighborhood Economic Development Opportunities Program (NEDO) is sponsored by City of Memphis. Provides funding for acquisition, rehabilitation of commercial property, façade improvement, and public facility projects.

Neighborhood Economic Development Opportunities Program (NEDO) - The City of Memphis Neighborhood Economic Development Opportunities Program (NEDO) The City of Memphis, Neighborhood Economic Development Opportunity Program (NEDO) consists of four funding activities: · Rehab of Commercial Property NEDO operates through an Open Round two-step process. The applications involve a two-step process.

First, an applicant must complete a preliminary application called the Pre-Submission Form Click Here . (Applications submitted through the Neighborly portal without prior completion of the required pre‑submission form will not be processed.) The HCD Development Services team will review the Pre-Submission Form.

If the Pre-Submission Form meets CDBG program requirements, the applicant will receive a formal invitation to apply. The invitation to apply will allow the applicant to proceed to the second step, the full application process. An applicant must complete the full application within 60 days of the invitation to apply.

The NEDO program Open Round process allows applications to be submitted throughout the year, allowing potential applicants to apply at their convenience. Project activities must not commence before the award and approval of environmental materials by the Division of Housing and Community Development. One of HUD’s requirements is that your project meets one of the three national objectives outlined in 24 CFR 570.

208 of the Code of Federal Regulations. 1. Benefit to Low—and Moderate-Income (LMI) Persons: Activities must benefit LMI individuals directly or through an area-wide benefit.

2. Prevention or Elimination of Slums or Blight: These activities are intended to address conditions of slums and blight. 3.

Urgent Needs: Activities meet other community development needs that are particularly urgent because of conditions posing a serious and immediate threat to the community’s health or welfare.

NEDO funds are available to assist for-profit businesses, not-for-profit organizations, and real estate developers in revitalizing neighborhoods and creating or retaining permanent employment, primarily for persons of low—and moderate-income, by investing in and rehabbing commercial real estate, rehabilitation, and façade improvement.