HUD ANNOUNCES MORE THAN $9 MILLION IN COMMUNITY DEVELOPMENT AND AFFORDABLE HOUSING TO COMMUNITIES IN IOWA

DES MOINES - U.S. Housing and Urban Development Secretary Shaun Donovan today announced five communities in Iowa will receive $9,225,998 to support community development and produce more affordable housing. HUD's annual funding will also help find homes for individuals and families living on the streets.

"This funding provides the building blocks needed to improve communities," said Donovan. "Now, more than ever,
these grants promote neighborhood development, produce affordable housing, and help extremely low-income
persons find their place in their communities."

The funding announced today includes:

Cedar Falls

• $ 335,659 in Community Development Block Grant (CDBG) funds.

Davenport

• $ 1,883,503 in Community Development Block Grant (CDBG) funds; and
• $    713,195 in HOME Investment Partnerships (HOME) funding.
  $2,596,698 TOTAL

Iowa City

• $    722,192 in Community Development Block Grant (CDBG) funds; and
• $    677,991 in HOME Investment Partnerships (HOME) funding.
  $1,400,183 TOTAL

Sioux City

• $ 2,077,613 in Community Development Block Grant (CDBG) funds; and
• $    551,295 in HOME Investment Partnerships (HOME) funding; and
• $      83,961 in Emergency Shelter Grant (ESG).
  $2,712,869 TOTAL

Waterloo

• $ 1,507,033 in Community Development Block Grant (CDBG) funds; and
• $    673,556 in HOME Investment Partnerships (HOME) funding.
  $2,180,589 TOTAL

Since 1974, HUD's Community Development Block Grant (CDBG) Program has provided approximately $132 billion to state and local governments to target their own community development priorities. The rehabilitation of affordable housing and the improvement of public facilities have traditionally been the largest uses of CDBG although the
program is also an important catalyst for job growth and business opportunities. Annual CDBG funds are distributed
to communities according to a statutory formula based on a community's population, poverty, and age of its housing stock, and extent of overcrowded housing.

HOME (HOME Investment Partnerships Program) is the largest federal block grant to state and local governments designed exclusively to produce affordable housing for low-income families. Since 1992, more than 600 communities have completed nearly 950,000 affordable housing units, including 403,000 for new homebuyers. In addition, 224,000 tenants have received direct rental assistance.

Emergency Shelter Grants (ESG) provides homeless persons with basic shelter and essential supportive services. It can assist with the operational costs of the shelter facility, and for the administration of the grant. ESG also
provides short-term homeless prevention assistance to persons at imminent risk of losing their own housing due to eviction, foreclosure, or utility shutoffs.

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HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet and espanol.hud.gov.