Appropriation Account Material: Grants and Loans Administration [Salaries and Expenses] Summary of Adjustments to Base. Justification of Adjustments to Base. Appropriation Language and Code Citations. Program and Performance: Direct Obligations.. Justification of Program and Performance...... Summary of Requirements by Object Class........ Detailed Requirements by Object Class.... GENERAL STATEMENT This budget requests funding and staffing support needed to phase out the programs of the Economic Development Administration (EDA). The Office of Grants and Loans Administration will be established within the Office of the Secretary to monitor and close out existing grants, loans and loan guarantees for EDA as well as other Commerce programs being proposed for termination. The Administration proposes to The programs of the Economic Development Administration were authorized by the Public Works and Economic Development Act of 1965 as amended, and the Trade Act of 1974 in order to provide grants, loans and loan guarantees to economically distressed areas. terminate EDA beginning in FY 1992. The following is a comparison of the FY 1991 appropriation currently available and the request for FY 1992: Grants and loans administration [Salaries and expenses] Economic development assistance programs. 365 $27,018 152 $20,000 -213 Total 0 209,000 365 236,018 0 0 0 152 20,000 -213 -216,018 324 The President's FY 1992 Budget proposes termination of EDA programs for the following reasons: 1. Funding decisions for local economic development projects should be the responsibility of state and local governments and/or private 2. investors. EDA's mandate to help distressed areas is undermined by the fact that more than 80 percent of U. S. counties are eligible for EDA assistance. This submission describes existing EDA programs. Other programs proposed for consolidation into the Office of Grants and Loans Administration are described in the National Telecommunications and Information Administration and National Oceanic and Atmospheric Administration submissions. The amounts requested will provide necessary staffing for monitoring ongoing projects, collecting debts owed to the Government, and for all other functions associated with an orderly phaseout of the Economic Development Administration. Employees responsible for initiating or coordinating new projects and programs will be released on or about November 30, 1991. EDA-2 |