HUD No. 02-716ILF
(312) 353-6236 ext. 2666
July 16, 2002
BUSH ADMINISTRATION ANNOUNCES $963,000 FOR CHAMPAIGN, ILLINOIS IN COMMUNITY DEVELOPMENT FUNDS
CHICAGO - The City of Champaign, Illinois will receive $963,000 in federal assistance to stimulate the local economy and promote affordable housing, Housing and Urban Development Secretary Mel Martinez announced today.
grants do so much good for so many people," Martinez said.
"This money helps communities do the critical work of stimulating
business development and job growth, providing affordable housing
and helping our most
The funding announced today provides Champaign with $963,000 in Community Development Block Grant funds.
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.
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.
Note to editors: Communities that choose to
receive their block grants at other times of the year are not
included in today's announcement.