HUD ANNOUNCES $1,092,323 FOR COMMUNITY DEVELOPMENT AND AFFORDABLE HOUSING IN RICHMOND

SAN FRANCISCO - The U.S. Department of Housing and Urban Development (HUD) today announced the City of Richmond will receive $1,092,323 to support community development and produce more affordable housing through the Community Development Block Grant (CDBG) Program.

"Each year, HUD supports the community development and affordable housing needs of hundreds of cities, counties and states across our nation," said Regional Administrator Ophelia Basgal. "These funds will support local plans to strengthen communities and help families and individuals secure quality housing."

Since 1974, CDBG has provided approximately $147 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. Annual CDBG funds are distributed to communities according to a statutory formula based on a community's population, poverty, and age of its housing stock, and extent of overcrowded housing.

###

HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. More information about HUD and its programs is available on the Internet at www.hud.gov and http://espanol.hud.gov.

You can also connect with HUD on social media and follow Secretary Castro on Twitter and Facebook or sign up for news alerts on HUD's Email List.