HUD AWARDS $542,000 FOR AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT IN RURAL LOUISIANA
Ferriday and Marksville Receive Grants

NEW ORLEANS - U.S. Housing and Urban Development Secretary Shaun Donovan today awarded a total of $542,000 to the Macon Ridge Community Development Corporation in Ferriday, and the Tunica-Biloxi Tribe in Marksville, Louisiana, to stimulate economic development, create jobs and produce more affordable housing. The funding is provided through HUD's Rural Housing and Economic Development Program The grants announced today are part of $25 million HUD is awarding to 85 rural housing programs throughout the country.

"These grants will create jobs and produce critically needed affordable housing throughout rural areas of our country that are desperate for both," said Donovan. "We are committed to an economic recovery that is sustainable and reaches every corner of our country, including rural communities that are so important to our nation's economic health."

Macon Ridge Community Development Corporation in Ferriday will use its $300,000 RHED grant award to
assist in the rehabilitation of 24 single family homes and the construction of 40 new affordable single family homes. This award will promote business entrepreneurship, create 80 new jobs for the low income residents, develop
revolving loan funds, small businesses, and hands-on training in the construction trade. Partners involved in this project will by Delta Bank and Louisiana Housing Finance Agency. The proposed leveraging amount is $200,000.
Contact Person: Lloyd Spiller, (318) 757-2361.

Tunica-Biloxi Tribe of Louisiana in Marksville will use its $242,000 RHED grant to support an environmental assessment and architectural and engineering plans for a proposed affordable daycare center and low-income
housing project. This outreach effort will create 12-40 new full time construction jobs, reservation businesses, education, housing and social services. Partners for this project include Cenla Tunica-Biloxi Housing, Tunica Biloxi Economic Development Corporation, and Renewal Louisiana. Proposed leveraging for this project if $83,348.
Contact Person: Early Barbry, (318) 253-9767.

Rural Housing and Economic Development (RHED) grants support 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.

Qualified applicants are local rural nonprofit organizations, community development corporations, federally
recognized Indian tribes, State housing finance agencies and/or local economic development agencies. Since 1998, RHED grants have provided nearly $250 million, creating/training more than 41,000 jobs, assisting nearly 6,300 businesses and producing nearly 16,000 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.

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