HUD ANNOUNCES $2,244,958 MILLION IN COMMUNITY DEVELOPMENT AND AFFORDABLE HOUSING IN MUNCIE, INDIANA

JUNE 10 - U.S. Housing and Urban Development Deputy Secretary Ron Sims today announced that Muncie, Indiana
will receive more than $2,244,958 million to support community development and produce more affordable housing. "This funding provides the building blocks needed to improve communities," said Sims. "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:

• $  1,573,841 in Community Development Block Grant (CDBG) funds;
• $    671,117 in HOME Investment Partnerships (HOME) funding.
  $2,244,958 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.

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HUD is the nation's housing agency committed to sustaining homeownership; 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 ad enforces the nation's
fair housing laws. More information about HUD and its programs is available on the Internet and espanol.hud.gov.