HUD REGIONAL DIRECTOR ANNOUNCES $49.9 MILLION IN COMMUNITY DEVELOPMENT FUNDING FOR MISSISSIPPI

JACKSON - U.S. Housing and Urban Development Regional Director Bob Young today announced HUD is providing
$49.9 million in funding throughout Mississippi to promote a variety of community development and affordable housing programs. HUD funding will also provide downpayment assistance to first-time homebuyers, assist individuals and families who might otherwise be living on the streets and offer real housing solutions for individuals with HIV/AIDS
(see attached list).

"This funding will help build better communities from the ground up," said Young. "Whether it's improving
infrastructure or ensuring first-time homebuyers can purchase and maintain their homes, HUD is helping
neighborhoods across Mississippi to become better places to live and work."

Since 1974, HUD's Community Development Block Grant (CDBG) Program has awarded an estimated $119 billion to state and local governments to target their own community development priorities. The rehabilitation of affordable housing and construction of public facilities and improvements have traditionally been the largest uses of the
grants, although CDBG is also an important catalyst for job growth and business opportunities. CDBG funds are distributed by formula around the country based on a community's population, poverty, the age of its housing stock, and extent of overcrowded housing.

HUD's 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, 645 communities have completed more than 781,000 affordable housing units, including more than 327,000 for new homebuyers. In
addition, nearly 163,000 tenants have received direct rental assistance.

The American Dream Downpayment Initiative (ADDI) helps first-time homebuyers with the biggest hurdle to homeownership: downpayment and closing costs. The program was created to assist low-income first-time homebuyers in purchasing single-family homes by providing funds for downpayment, closing costs, and rehabilitation carried out in conjunction with the assisted home purchase. Since the program's inception, ADDI has assisted approximately 23,000 households to purchase their first home.

Emergency Shelter Grants (ESG) help local communities to meet the basic shelter needs of homeless individuals and families. 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. This block grant program, along with more than
$1 billion HUD grants awarded by competition, helps thousands of local homeless assistance programs to help those who would otherwise call the streets their home.

HUD's Housing Opportunities for Persons with AIDS (HOPWA) grants are distributed based on the number of AIDS
cases reported to the Centers for Disease Control and Prevention. The grants provide rental assistance and
support services to individuals with HIV/AIDS and their families. In addition, the HOPWA program also helps many communities develop strategic AIDS housing plans and fill in gaps in local systems of care. A stable home
environment is a critical component for low-income persons managing complex drug therapies and potential side effects from their treatments.

For further information contact Cassandra Terry at (601) 608-1700

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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.