To authorize the Secretary of Housing and Urban Development to make grants to community development corporations for reducing interest rates on loans for economic development activities in distressed cities and urban counties.
Economic Development Loan Assistance Program Act of 1989 - Authorizes the Secretary of Housing and Urban Development to make grants to community development corporations to reduce interest rates on urban economic development loans.
Limits grant amounts to $2,000,000.
Requires the Secretary to report annually to the Congress.
Authorizes FY 1990 through 1992 appropriations.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Economic Stabilization.
Referred to the Subcommittee on Housing and Community Development.
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