HUD No. 02-807MI1
(312) 353-6236 ext. 2666
July 7, 2002
HUD ANNOUNCES $1,288,106 IN HOUSING ASSISTANCE TO GRAND RAPIDS
Funding Helps 250 New Families Find Affordable Housing
GRAND RAPIDS - The Department of Housing and Urban Development awarded $1,288,106 for 250 new rental-assistance vouchers to Grand Rapids to help low-income families rent apartments or buy homes.
Rapids is one of two housing agencies in Michigan to receive the
new Housing Choice Vouchers (HCV),
approved in HUD's 2002 budget. The city's HCV program currently assists more than 2,070 families.
"These new vouchers will help more Grand Rapids families find affordable housing," said HUD Assistant Secretary Michael Liu.
Grand Rapids vouchers are part of the $95 million in vouchers HUD awarded to 48 states and Puerto Rico. The vouchers will allow 16,460 low-income families to lease or purchase homes or apartment units. All totaled, the two housing agencies in Michigan received $2,209,814 for 446 new vouchers today.
Housing Choice Vouchers Program is the federal government's major
initiative that helps low-income families, including the elderly
and disabled, afford housing.
The HCV Program currently assists 1.8 million families with rent
payments. Over the past three years, about 300 families have used
their vouchers to become homeowners. Families receiving HUD rental
assistance vouchers generally pay 30 percent of their income for
rent, with HUD subsidies
picking up the remainder.
vouchers distributed today are called "fair share vouchers"
because they are distributed to communities that compete based on
the housing needs of low-income families in each state. Only PHAs
that demonstrated an ability
to use 97 percent of their 2001 vouchers were eligible to compete for the new vouchers.
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 at www.hud.gov.