HUD No. 08-005
(404) 331-5001 ext. 2776
March 19, 2008
HUD ANNOUNCES $1.4 MILLION FOR AFFORDABLE HOUSING AND COMMUNITY DEVELOPMENT IN GULFPORT
JACKSON - U.S. Housing and Urban Development Secretary Alphonso Jackson today announced the City of Gulfport will receive more than
$1.4 million to support community development and produce more affordable housing in
"This funding will help Gulfport to rebuild its neighborhoods and affordable housing stock," said Jackson. "By helping communities to improve their infrastructure or assisting families to purchase their first home, HUD is helping improve neighborhoods from the ground up."
The funding announced today includes:
- $ 736,370 in Community Development Block Grant (CDBG) funds; and,
- $ 729,637 in HOME Investment Partnerships (HOME) funding.
Since 1974, HUD's Community Development Block Grant (CDBG) Program has provided more than $120 billion to
state and local governments to target their own community development priorities. The rehabilitation of affordable housing and the improvement of public facilities have traditionally been the largest uses of CDBG although the
program is also an important catalyst for job growth and business opportunities. Annual CDBG funds are distributed
to communities according to a statutory formula based on a community's population, poverty, and age of its housing stock, and extent of overcrowded housing.
HOME (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, more than 600 communities have completed more than 834,000 affordable housing units, including 352,000 for new homebuyers. In addition, 186,000 tenants have received direct rental assistance.
###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
For further information, contact Cassandra Terry at (601) 608-1700.