May 13, 2004
BUSH ADMINISTRATION ANNOUNCES $604,000 TO STIMULATE ECONOMIC DEVELOPMENT AND HOUSING IN POCATELLO
HUD grants targeted to lower income persons and families in need
BOISE, IDAHO - The City of Pocatello will receive $604,000 in funding from the Department of Housing and Urban Development to stimulate its economy and produce affordable housing. HUD Secretary Alphonso Jackson said the funding represents another investment in improving the living conditions for Pocatello's lower income families.
"This Administration is committed to promoting economic development and job growth, increasing the supply of affordable housing, and helping our most vulnerable neighbors," said Jackson. "These funds will serve as a catalyst
for low-income families trying to cross the threshold into homeownership and reinforces our commitment to
rebuilding entire communities."
"This money will go a long way in assisting the City of Pocatello to continue their important efforts to provide affordable housing and economic development projects for their citizens in need. The City has always been able to leverage HUD funds with those from the local community, enabling them to double or triple their impact. I look
forward to their continued successes," said Connie Hogland, HUD Boise Field Office Director.
The funding announced today is provided through Community Development Block Grant (CDBG) Program. For the
past 30 years, CDBG has awarded over $100 billion to state and local governments to target their own community development priorities. CDBG is one of HUD's oldest and most popular programs. The rehabilitation of affordable housing has traditionally been the largest single use of the grants although CDBG is also an important catalyst for
job growth and business opportunities. CDBG funds are distributed by formula around the country based on a community's population, income levels, poverty rates and the age of its housing stock.
HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities, creating affordable housing opportunities for low-income Americans, supporting the homeless, elderly, people with disabilities, and people living with AIDS. The Department also promotes economic and community development as well as
enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet