The National Capital Strategic Economic Development Fund (“NED”) is a program for the greater National Capital region of Maryland that provides competitive funding for strategic investment in local housing and businesses to encourage healthy, sustainable communities with a growing tax base and enhanced quality of life.
Donor Name: Maryland Department of Housing and Community Development
County: Prince George’s County (MD) and Montgomery County (MD)
Type of Grant: Grant
Size of the Grant: $7 million
The program focuses on areas within Prince George’s and Montgomery counties where modest investment and coordinated strategies will have an appreciable neighborhood revitalization impact.
Funds from the NED program should support the goals and objectives outlined in a targeted area’s Sustainable Communities Action Plan; however, should also support the following activities:
- Down payment assistance for homebuyers to purchase and rehabilitate homes
- Programs to acquire or rehabilitate vacant or blighted properties
- Programs to improve existing residential and business properties
- Programs to achieve energy efficiency through weatherization and energy retrofits
- Development of affordable housing
- Development of mixed–use projects that combine housing, retail, and office space
- Development or enhancement of community open space or public infrastructure
- Related workforce and employment development programs
- Related career and technical education and apprenticeship programs
- Strategic demolition
- Program funds may be used for operating costs necessary to implement a community enhancement project.
Grant amount: $7 million capital and $200,000 operating.
- Eligible applicants include local governments and community development organizations.
- For 2023, NED projects should be in Sustainable Communities located:
- In Prince George’s County, at least in part, within the boundary created by Interstate 495 in the State and the District of Columbia; OR
- In Montgomery County, within an Enterprise Zone or the boundary created by:
- Prince George’s County;
- Maryland Route 200;
- Interstate 270;
- Interstate 495 to the Maryland state line; and
- The District of Columbia.
For more information, visit MDHCD.