HUD AWARDS NEARLY $24 MILLION FOR AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT IN AMERICA'S HEARTLAND
Grants will help 103 rural housing and development programs nationwide Central Florida Community Development Corporation for St. Johns and Volusia counties awarded $150,000

WASHINGTON - Housing and Urban Development Secretary Alphonso Jackson today announced $23.7 million in
grants in more than a hundred rural communities in 37 states and Puerto Rico which includes $150,000 awarded to
the Central Florida Community Development Corporation for St. Johns and Volusia counties to stimulate their local economies, to produce more affordable housing and to create jobs. The funding is provided through HUD's Rural Housing and Economic Development Program. See attached list.

In addition to the HUD funding announced today, these rural communities are expected to generate $35 million from other public and private sources to further promote economic development and employment.

"These grants will make a real difference in rural America," said Jackson. "Whether it's building new homes or stimulating business activity, this funding will provide a much needed shot in the arm to local communities and to
the people who live there."

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 microenterprises 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 community and economic development agencies will administer these grants. The funding will help 103 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.

For a brief description of all the projects receiving funding, visit HUD's website.

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 and espanol.hud.gov.

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