Bill McNarney (515) 284-4512 |
For
Release Wednesday August 7, 2002 |
HUD ANNOUNCES $310,245 IN HOUSING ASSISTANCE TO IOWA CITY, IOWA
Funding Helps 63 New Families Find Affordable Housing
IOWA CITY, IOWA - The Department of Housing and Urban Development awarded $310,245 for 63 new rental-assistance vouchers to Iowa City to help low-income families rent apartments or buy homes.
Iowa City is one of three housing agencies in Iowa to receive the new Housing Choice Vouchers (HCV), approved in HUD's 2002 budget. The city's HCV program currently assists more than 1083 families.
"These new vouchers will help more Iowa City families find affordable housing," said HUD Assistant Secretary Michael Liu.
Iowa City's vouchers are part of the $95 million in vouchers HUD
awarded to 48 states and Puerto Rico. The
vouchers will allow 16,460
low-income families to lease or purchase homes or apartment units.
All totaled, the three housing agencies in Iowa received $466,985
for 111 new vouchers today.
HUD's Housing Choice Vouchers Program is the federal government's
major initiative that helps low-income families, including the elderly
and disabled, afford housing. The HCV Program currently assists
1.8 million families with rent payments. Over the past three years,
about 300 families have used their vouchers to become homeowners.
Families receiving HUD rental assistance vouchers generally pay
30 percent of their income for rent, with HUD subsidies
picking
up the remainder.
The vouchers distributed today are called "fair share vouchers"
because they are distributed to communities that compete based on
the housing needs of low-income families in each state. Only PHAs
that demonstrated an ability
to use 97 percent of their 2001 vouchers
were eligible to compete for the new vouchers.
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.
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