LOUISVILLE - U.S. Housing and Urban Development Secretary Alphonso Jackson today announced the Commonwealth will receive more than $3.7 million to promote a variety of community development and affordable housing programs throughout Kentucky.

"This funding helps breathe new life into neighborhoods," said Jackson. "By helping communities to improve their infrastructure or assisting families to purchase their first home, HUD is helping improve neighborhoods from the
ground up."

The funding announced today includes Community Development Block Grant (CDBG) funds and HOME (Home Investment Partnerships Program) funds:

Since 1974, HUD's Community Development Block Grant (CDBG) Program has received approximately $120 billion for 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 the grants, although
CDBG is also an important catalyst for job growth and business opportunities. In 2006, communities reported that CDBG provided housing assistance to 179,385 households, assisted in the creation or retention of more than 55,000 jobs. CDBG funds are distributed to grantees 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 more than 780,000 affordable housing units, including over 329,000 for new homebuyers. In
addition, over 164,000 tenants have received direct rental assistance.

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