(336) 547-4002 ext. 2058
July 21, 2004
BUSH ADMINISTRATION ANNOUNCES ALMOST $2 MILLION TO STIMULATE ECONOMIC DEVELOPMENT AND HOUSING IN GREENVILLE
HUD grants targeted to lower income persons and families in need
GREENSBORO - The City of Greenville will receive almost $2 million in federal funding to stimulate its local economy, produce affordable housing and help the homeless, individuals and families, Housing and Urban Development
Secretary Alphonso Jackson today announced. The funding will also help house and serve individuals with HIV/AIDS and will provide downpayment assistance to lower income families.
"This Administration is committed to promoting economic development and job growth, increasing the supply of affordable housing, and helping our most vulnerable neighbors," said Jackson. "These funds will serve as a catalyst
for low-income families trying to cross the threshold into homeownership and reinforces our commitment to
rebuilding entire communities."
The funding announced today includes:
- $962,000 in Community Development Block Grant (CDBG) funds;
- $58,010 in American Dream Downpayment assistance; and,
- $942,615 for Housing Opportunities for Persons with AIDS (HOPWA).
For the past 30 years, HUD's Community Development Block Grant (CDBG) Program has awarded over $100 billion to state and local governments to target their own community development priorities. CDBG is one of HUD's oldest and most popular programs. The rehabilitation of affordable housing has traditionally been the largest single use 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, income levels, poverty rates and the age of its housing stock.
The American Dream Downpayment Initiative (ADDI) aims to increase the homeownership rate, especially among lower income and minority households, and to revitalize and stabilize communities. ADDI will help 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. Information about this program is available at www.hud.gov/offices/cpd/affordablehousing/programs/home/addi/index.cfm
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.
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 as
well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet and espanol.hud.gov.