HUD ANNOUNCES $534,591 IN HOUSING ASSISTANCE TO SAN LUIS OBISPO
Funding Helps 86 New Families Find Affordable Housing

SAN FRANCISCO - The Department of Housing and Urban Development awarded $534,591 for 86 new rental-assistance vouchers to the City of San Luis Obispo to help low-income families rent apartments or buy homes.

The Housing Authority of the City of San Luis Obispo is one of eight housing agencies in California to receive the
new Housing Choice Vouchers (HCV), approved in HUD's 2002 budget. The city's HCV program currently assists more than 1,467 families.

"These new vouchers will help more San Luis Obispo families find affordable housing," said HUD Assistant Secretary Michael Liu.

San Luis Obispo's vouchers are part of the $95 million in vouchers HUD awarded to 48 states and Puerto Rico. The vouchers will allow 16,460 more low-income families to lease or purchase homes or apartment units. All totaled, the
8 housing agencies in California received $18,174,740 for 2,292 new vouchers today.

HUD's 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.

The 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 (public housing agencies) that demonstrated an ability to use 97 percent of their 2001 vouchers were eligible to compete for the new vouchers.

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.

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