HUD No. 10-07 Krista Mills (502) 582-5251 |
For
Release Thursday September 18, 2003 |
HUD DELIVERS $851,000 IN COMMUNITY DEVELOPMENT AND HOUSING FUNDS FOR ASHLAND
HUD grants invest in people and places in need
LOUISVILLE - The City of Ashland will receive $851,000 in federal assistance through the Department of Housing and Urban Development to stimulate local economies, produce affordable housing, help the homeless, and assist families and individuals with HIV/AIDS. In making today's announcement, HUD's Regional Director Brian E. Noyes said the funding signals HUD's commitment to helping local communities design their own plan to help lower income families.
"The
funding we announce today is an investment in Ashland's future -
promoting economic development and job growth, increasing the supply
of affordable housing and helping our most vulnerable neighbors,"
said Noyes. "These resources are evidence of HUD's continuing
commitment to provide communities with the resources they need to
meet the particular needs of their residents."
The funding announced today includes $851,000 in Community Development Block Grant (CDBG) funds.
HUD's
Community Development Block Grant (CDBG) Program enables
state and local governments to target their
own economic development
priorities. The rehabilitation of affordable housing has traditionally
been the largest single use of the grants although CDBG is also
an important catalyst for job growth 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.
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