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Governor Paul E. Patton signs "June Home Ownership Month" Proclamation as state Senator Johnny Ray Turner, the Kentucky Housing Corporation's F. Lynn Luallen, and the Director of HUD's Kentucky Field Office, Ben A. Cook, look on. |
Kentucky has much to celebrate, including new legislation that increased income limits the Kentucky Housing Corporation uses to qualify state residents for low interest loans. The limits now match Federal income limits. In May - in large part because of the new income limits - the Corporation closed $28 million in home loans, the highest production rate in its history. At the signing ceremony, Governor Patton recognized State Senator Johnny Ray Turner, who sponsored the bill in the 2002 legislative session.
HUD and the Kentucky Housing Corporation have been strong, long-time
partners, sharing the mutual goal of maintaining and creating affordable housing
and expanding homeownership. Over the past ten years, the Corporation has received
about $148 million dollars in HOME funds through the Department, and has committed
about half of those funds for homeownership activities. This has added more than 4,400 Kentucky families to the homeownership
rolls, with thousands expected in the years to come thanks to this effective
partnership between HUD and the Commonwealth of Kentucky.