HUD AWARDS NEARLY $17 MILLION FOR AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT IN RURAL AMERICA
Grants will help Colorado rural housing and development programs

DENVER - Housing and Urban Development Secretary Alphonso Jackson today awarded $16.8 million in grants to 56 rural communities in 23 states - including Colorado - to stimulate economic development, create jobs and produce more affordable housing. The funding is provided through HUD's Rural Housing and Economic Development Program.

In addition to the HUD grants announced today, the rural communities are expected to generate more than $35
million from other public and private sources to further promote economic development and employment. The
Colorado grant is awarded to Huerfano-Las Animas Area Council of Governments in Trinidad in the amount of $300,000. Their proposed activities include acquiring, rehabilitating and selling at least two affordable homes to low-moderate income families. Homes built before 1978 will be inspected for lead-based paint. The proposed amount leveraged is $13,620.

"Today we make another investment in our nation's heartland," said Jackson. "This funding will help stimulate
critically needed business development and that ultimately means jobs in these rural communities. These grants
and the private investment they help to leverage will also produce more affordable housing opportunities for
working families across this great country."

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 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, and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet
and espanol.hud.gov.

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