HUD AWARDS CROWLEY, TALLULAH AND HOUMA $900,000 FOR AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT IN RURAL AREAS

NEW ORLEANS - U.S. Housing and Urban Development Secretary Steven Preston today awarded $16.9 million to 60 rural housing programs across the country to stimulate economic development, create jobs and produce more affordable housing. Included in the funding announced today were grants, in the amount of $300,000 each, to Louisiana Technical College Tallulah Foundation in Tallulah, Seventh District Pavilion Inc in Crowley and START Corporation in Houma.

The funding is provided through HUD's Rural Housing and Economic Development Program.

"HUD is deeply invested in promoting affordable housing and community development throughout rural America," said Preston. "These grants will stimulate the kind of employment, economic growth, and housing development that will have a direct impact on working families in our rural communities."

Rural Housing and Economic Development (RHED) grants help pay for land acquisition, new home construction, housing demolition, infrastructure improvements and construction training. Other possible uses include
homeownership and financial counseling; financial assistance to homeowners, businesses and developers; creating microenterprises and small business incubators; and establishing lines of credit or revolving loan pools to benefit the local business community. In addition to the funding announced today, rural communities are expected to generate nearly $59 million from other public and private sources to promote economic development and employment.

Qualified applicants are local rural nonprofit organizations, community development corporations, federally
recognized Indian tribes, State housing finance agencies and/or local economic development agencies. RHED grants have provided nearly $223 million, creating/training more than 35,000 jobs, assisting nearly 5,500 businesses and producing 14,000 affordable homes.

Rural communities will use this funding as seed money to pay the start-up costs for housing or economic
development projects. These grants will also help organizations to hire and train their staffs, develop strategic
plans and acquire office space and other needed facilities.

The Louisiana Technical College Tallulah Foundation in Tallulah will use its $300,000 RHED grant to assist in the construction of six to eight new homes, to substantially rehabilitate low income family homes, and to create new
jobs in the Madison and East Carroll parishes, 80 percent of which will be filled by eligible low and very low-income residents of the Northeast Louisiana Delta target area.

Partners for this project are Habitat for Humanity of Madison, LISC Mid-South Delta, Leadership Conference of
Women Religious, SDA-83 Workforce Investment Board, YouthBuild Delta, the Towns of Lake Providence and
Tallulah, the Louisiana Technical College, the Madison Parish Chamber of Commerce, the Madison and East Carroll Parish Police Juries, the Delta Bank, the local school districts, and other local partner agencies and businesses including the Macon Ridge CDC and the Northeast Louisiana Delta CDC. The proposed leveraging for this project is $628,850. Contact: Mason Cox, (318) 574-4820.

Seventh District Pavilion, Inc. in Crowley will use its $300,000 RHED grant to provide a revolving loan account that
will allow the organization to build homes in a timely manner. The agency proposes to construct 25 homes in 24 months. Partner for this project is the Federal Home Loan Bank of Dallas. The proposed leveraging for this project is $246,532. Contact: Dazetta Thorne, (337) 788-3103.

START Corporation in Houma, LA will use its $300,000 RHED grant to assist in the acquisition of three acres of raw land located in Labadieville, Assumption Parish, and for the preparation of the land for 10 single family homes and a HUD 811 project that will include 13 rental units affordable for very low-income disabled persons. Partners for this project are the START Corporation, Louisiana Rehabilitation Services, Office of Addictive Disorders, and the Office
of Mental Health. The proposed leveraging for this project is $50,094. Contact: Casey Guidry, (985) 879-3966.

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