On Friday, Secretary Martinez presented New York with nearly $306 million to provide residential incentives and job training to tens of thousands of individuals and families living or working in Lower Manhattan. HUD's assistance will also reimburse New York for the design and installation of the interim memorial to the victims of the terrorist attacks on the World Trade Center.

The Secretary said the announcement "is another example of the Bush Administration's commitment to the citizens of New York City. If the terrorists thought that by destroying the Twin Towers they were destroying America's spirit and resolve, they were wrong. September 11th had the reverse effect - it has made us stronger and more unified."

The assistance announced on June 7, 2002, is the first installment of a $2 billion grant from HUD's Community Development Block Grant (CDBG) Program and represents the largest single grant in the Department's history. Martinez made the announcement during a ceremony in New York with Governor George Pataki. Earlier this year HUD also provided New York $700 million to assist businesses affected by the events of September 11th.

Included in HUD's assistance is $350,000 to help defray the cost of an interim memorial for the victims of the September 11th attacks on the World Trade Center. Located in a section of historic Battery Park, the memorial includes "The Sphere for Plaza Fountain," a monument to world peace that sat atop a granite fountain in the center of the World Trade Center Plaza. The Sphere is framed on either side by a row of trees and park benches. This memorial is intended to provide comfort and common commemorative ground for the victims and survivors of the terrorist attacks.

Under a Residential Incentive program, the Lower Manhattan Development Corporation, in cooperation with the State of New York and New York City, will distribute direct housing grants of up to $12,000 to eligible tenants and homeowners who commit to living in Lower Manhattan for at least two years. In order to retain existing residents, one-time grants of up to $1,500 are also available to families who commit to remaining in Lower Manhattan for at least one-year.

Lower Manhattan residents represent an important part of the economic revitalization of New York City. This incentive program is designed to attract and retain residents, reduce vacancies and re-establish the health of the area's economy.

Martinez said, "Restoring the area's housing and job market is a necessary step in helping to make this community whole again."

In addition, HUD funding for an Employment Training Assistance program will help approximately 5,000 current and prospective employees of businesses and nonprofit organizations located in Lower Manhattan. These workers will receive vital customized training for jobs that require specific skills not taught in traditional classroom settings. The program will give special attention to individuals that lost wages and worked south of Houston Street on September 11th.

The Lower Manhattan Development Corporation will continue to fashion a plan to spend the remaining $1.7 billion of HUD funding.

HUD is the nation's homeownership agency, and for National Homeownership Month HUD offices in every state in the nation are joining with local governments and organizations to celebrate. Throughout the month of June, HUD and thousands of partners across America are taking special steps to show every interested American family - especially first time homebuyers and minority families - how they can buy a home of their own.

If you want to learn more about how you can become a homeowner, visit HUD's National Homeownership Month page. You can get valuable information in English or Spanish - and learn how you, too, can live the American Dream!