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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