Community Development Block Grant

Community Development Block Grant definition - finance
Flexible federal aid given to cities to promote neighborhood revitalization through economic development and improved community facilities and services in depressed neighborhoods. Local government can decide how to use the funds, which are administered by either state or city economic development offices.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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