According to Davonne Reaves, Hospitality Strategist at The Vonne Group, less than two percent of hotels across the country are currently owned by Black people.
This is a huge significance when it comes to the disparity of ownership in the African American community especially when it comes to housing. This is were the Community Development Block Grant (CDBG) fully comes into effect.
The Community Development Block Grant (CDBG) Entitlement Program is aimed at providing annual grants to help develop qualified urban communities by ensuring that there is decent housing, and convenient living conditions to help boost economic situations in the area.
If you are interested in starting your own business as a community builder, start a hotel business, motels, bed and breakfast amongst others. You have to ensure that you meet the eligibility requirements of this program, to be able to apply for funding with the CDBG.
These are some of the eligibility criteria that you have to meet below:
- You have to ensure that your location is in a principal area of the city
- Has a population of at least 50,000
- Qualified urban counties with populations of at least 200,000
- Groups identifying as a minority
- Other relevant information to the DDBG