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American Rescue Plan Economic Equity Proposal Sign-on Letter
Sign on Your Organization to Support Economic Equity and Recovery in South Carolina!
The South Carolina General Assembly is tasked with allocating $2.5 billion of American Rescue Plan funding in response to the economic and public health challenges of the pandemic. To ensure an equitable economic recovery, the community development sector has drafted this letter of support requesting the SC General Assembly to prioritize funding for the development of affordable housing, small businesses recovery loans or grants, and the creation of individual development accounts.
Funding Request:
Request $197 million to be allocated for affordable housing development through SC Housing Finance Development Agency (SC Housing).
Request $125 million to be allocated for Micro and Small Business Recovery Loans and Grants through SC Department of Commerce.
Request $10 million to be allocated for a statewide Individual Development Account (IDA) Program for South Carolina Department of Social Services or Department of Commerce.