SECRETARY DONOVAN AWARDS $507,912 IN RECOVERY ACT FUNDS TO ANCHORAGE TO REVITALIZE NEIGHBORHOODS AND CREATE JOBS

ANCHORAGE - U.S. Housing and Urban Development Secretary Shaun Donovan today approved the award of
$507,812 in additional Community Development Block Grant appropriated under the American Recovery &
Reinvestment Act to the Municipality of Anchorage to help stabilize and revive neighborhoods, rehabilitate affordable housing, and improve key public facilities.

"The President's Recovery Act allows us to invest in local solutions to the many challenges our cities and counties
are confronting," said Donovan. "Today, I'm pleased to award these funds to Anchorage to build a real and lasting recovery."

The Recovery Act includes $1 billion in CDBG funding to assist state and local governments to promote a wide range
of community development activities over and above the amounts annually awarded to CDBG entitlement
communities under appropriations bills. The funds are intended to help communities stabilize property values, prevent neighborhood blight, meet critical infrastructure needs and, thereby, create and preserve jobs.

Since 1974, HUD's CDBG Program has provided approximately $124 billion to state and local governments to target their own community development priorities. The rehabilitation of affordable housing and the improvement of public facilities have traditionally been the largest uses of CDBG although the program is also an important catalyst for job growth and business opportunities. Under the Recovery Act, recipients shall give priority to projects that can award contracts based on bids within 120 days.

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HUD is the nation's housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet and espanol.hud.gov.