BUSH ADMINISTRATION AWARDS $400,000 TO BOOST ECONOMIC DEVELOPMENT AND JOB GROWTH IN RURAL COLORADO
Funds will help produce affordable housing in 10 rural Colorado communities

DENVER - Housing and Urban Development Secretary Alphonso Jackson today announced a $400,000 grant to help
the Intertribal Economic Alliance to stimulate economic development, produce more affordable housing and boost
job growth in10 Indian communities in rural Colorado. The funding is provided through HUD's Rural Housing and Economic Development Program.

In addition, this grant is expected to generate $226,000 from other public and private sources to further promote economic development and employment.

"This investment in rural America demonstrates that this Administration's commitment to our nation's heartland is strong," said Jackson. "These grants will help rural communities in Colorado produce affordable housing and jobs
where they're needed most."

The Intertribal Economic Alliance will use the funding announced today to help 10 federally recognized tribes in Colorado to create moderate-income housing, new businesses and job opportunities. The Alliance has a history of developing multi-tribal business ventures and creating more than 500 jobs. Through technical assistance and
business development, the Alliance will help these communities to stimulate manufacturing of natural products that provide health consciousness for tribal members.

Rural Housing and Economic Development grants help pay for land acquisition, new home construction, housing demolition, infrastructure improvements and construction training. Other possible uses include homeownership and financial counseling; financial assistance to homeowners, businesses and developers; creating micro enterprises and small business incubators; and establishing lines of credit or revolving loan pools to benefit the local business community.

Rural non-profit organizations federally recognized Native American tribes; community development corporations
and state agencies will administer these grants. The funding will help 105 rural communities to build and improve affordable housing, create jobs and generate community and economic development.

Rural communities will use this funding as seed money to pay the start-up costs for housing or economic
development projects. These grants will also help organizations to hire and train their staffs, develop strategic
plans and acquire office space and other needed facilities.

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; 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 as
well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at and espanol.hud.gov.

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