BUSH ADMINISTRATION ANNOUNCES NEARLY $3.5 MILLION IN HOUSING AND COMMUNITY DEVELOPMENT FUNDS FOR LAFAYETTE PARISH

NEW ORLEANS - Lafayette Parish, Louisiana will receive a total of $3,492,000 in federal assistance to stimulate its economy, promote affordable housing and help the homeless, Housing and Urban Development Secretary Mel
Martinez announced today.

"These 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
vulnerable neighbors."

Lafayette Parish will receive: $2,469,000 under the Community Development Block Grant (CDBG) Program;
$937,000 under the HOME Investment Partnership (HOME) Program; and, $86,000 from the Emergency Shelter
Grant (ESG) Program.

First awarded in 1974, 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.

HOME is the largest federal block grant program to state and local governments designed exclusively to create affordable housing for low-income households. Since 1992, more than a half million affordable housing units have
been acquired, constructed or rehabilitated and nearly 70,000 tenants have received direct rental assistance. In addition, more than 200,000 new homebuyers have received assistance to purchase their first homes through the HOME program.

Emergency Shelter Grants help communities meet the basic shelter needs of homeless individuals and families. Part
of HUD's award winning Continuum of Care initiative, these grants also provide transitional housing and a variety of support services designed to move the homeless away from a life on the street toward permanent housing.

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 minority homeownership, 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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