BUILD Act

The BUILD Act creates a federal grant program to support economic development in low-income communities through partnerships with qualifying colleges and universities. It provides planning grants (up to $100,000 annually for 2 years) to help institutions develop community revitalization plans, followed by implementation grants ($25-50 million over 5 years) for approved projects. Eligible projects include renovating community-accessible facilities (like housing, cultural centers, or health clinics), launching business incubators, creating local apprenticeships, and building public broadband networks. To qualify, institutions must be located in areas where median income is at least 25% below state or national averages, excluding high-research universities and military academies.