|
Eddie Woodhouse (336) 547-4002 ext. 2058 |
For Release Wednesday July 21, 2004 |
BUSH ADMINISTRATION ANNOUNCES OVER $600,000 TO STIMULATE ECONOMIC DEVELOPMENT AND HOUSING IN JACKSONVILLE
HUD grants targeted to lower income persons and families in need
GREENSBORO - The City of Jacksonville will receive more than $600,000 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.
"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:
- $622,000 in Community Development Block Grant (CDBG) funds
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.
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.
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