BUSH ADMINISTRATION ANNOUNCES NEARLY $2 MILLION IN HOUSING AND COMMUNITY DEVELOPMENT FUNDS FOR MAUI

HONOLULU - The island of Maui will receive $1,947,000 in federal assistance to stimulate its economy and promote affordable housing, Housing and Urban Development Secretary Mel Martinez announced today.

"This grant will do so much good for so many people," Martinez said. "This money helps the community do the
critical work of stimulating business development and job growth, providing affordable housing and helping our most vulnerable neighbors."

The funds are awarded through HUD's Community Development Block Grant (CDBG) fund.

First awarded in 1974, Community Development Block Grant (CDBG) funds enable state and local governments to target their own economic development priorities. Although the rehabilitation of affordable housing has traditionally been the largest single use of the grants, the program is also an increasingly important catalyst for economic development activities that expand job and business opportunities for lower income families and neighborhoods.

HUD's block grant programs are distributed by formula around the country based on criteria including population, income levels, poverty rates and age of housing stock.

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 at www.hud.gov.

Note to editors: Communities that choose to receive their block grants at other times of the year are not
included in today's announcement.

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