HUD AWARDS $300,000 FOR AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT IN RURAL MISSISSIPPI
Grant will help rural housing and development programs in the empowerment zone region

JACKSON, MS - Housing and Urban Development Secretary Alphonso Jackson awarded a $300,000 grant to The Mid-Delta Empowerment Zone Alliance to stimulate economic development, create jobs and produce more affordable housing. The funding announced is part of $16.8 million in grants awarded nationwide through HUD's Rural Housing
and Economic Development Program.

"Today we make another investment in our nation's heartland," said Jackson. "This funding will help stimulate
critically needed business development and that ultimately means jobs in these rural communities. These grants and the private investment they help to leverage will also produce more affordable housing opportunities for working families across this great country."

Rural Housing and Economic Development 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.

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.

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and, supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development, and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet
and espanol.hud.gov. For more information about FHA products, please visit www.fha.gov.

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RURAL HOUSING AND ECONOMIC DEVELOPMENT
FY2006 GRANTS PROGRAM IN MISSISSIPPI

The Mid-Delta Empowerment Zone Alliance in Itta Bena will receive a Rural Housing and Economic Development Innovative Support Grant award in the amount of $300,000. The funds will be used to implement effective housing-oriented education programs in five municipalities of the empowerment zone region. These programs will prepare individuals and families in this impoverished area for homeownership. The proposed leveraging for this project is $123,600.

Contact Person: Theressa Dent
14000 Highway 82 W@ MVSU, Itta Bena, Mississippi 38941
Telephone number: (662) 254-9957