May 14, 2003
BUSH ADMINISTRATION DELIVERS $680,000 IN COMMUNITY DEVELOPMENT FUNDS FOR JONESBORO, ARKANSAS
HUD grants invest in people and places in need
FORT WORTH - Housing and Urban Development Secretary Mel Martinez today announced Jonesboro, Arkansas, will receive $680,000 in Community Development Block Grant funds to stimulate local economies and produce affordable housing.
"The funding we announce today is an investment to promote economic
development and job growth, increase the supply of affordable housing,"
said Martinez. "These resources are evidence of the President's
commitment to provide communities with the resources they need to meet the particular needs of their residents."
HUD's Community Development Block Grant (CDBG) Program
enables state and local governments to target their
own economic development priorities. 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 for lower income families and neighborhoods.
HUD's block grant programs are distributed by formula around the country based on criteria including population, income levels, poverty rates and age of 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.
Note to editors: Communities that choose to receive their block grants at other times of the year are not included in today's announcement.