(336) 547-4002 ext. 2058
July 21, 2004
BUSH ADMINISTRATION ANNOUNCES OVER $1.1 MILLION TO STIMULATE ECONOMIC DEVELOPMENT AND HOUSING IN WAKE COUNTY
HUD grants targeted to lower income persons and families in need
GREENSBORO - Wake County will receive over $1.1 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:
- $576,600 in HOME Investment Partnerships (HOME) funding;
- $92,842 in American Dream Downpayment assistance;
- $79,852 in Emergency Shelter Grant (ESG); and,
- $352,000 for Housing Opportunities for Persons with AIDS (HOPWA).
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
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, in concert with more than $1 billion HUD awards 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.
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.