HUD No. GFO-08-06
Christian Stearns, Field Office Director
(336) 547-4000 ext. 2064
September 4, 2008
HUD AWARDS $16.9 MILLION FOR AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT IN RURAL AMERICA
$510,250 to benefit rural areas of North Carolina
NORTH CAROLINA - U.S. Housing and Urban Development Secretary Steven Preston today awarded $16.9 million to
60 rural housing programs across the country to stimulate economic development, create jobs and produce more affordable housing. Included in the funding announced today, HUD awarded 2 grants totaling $510,250 in rural North Carolina.
The funding is provided through HUD's Rural Housing and Economic Development Program. In North Carolina, HUD awarded grants to the Community Developers of Beaufort-Hyde and to Hollister R.E.A.C.H. The Community
Developers of Beaufort-Hyde, Inc. in Belhaven, NC will receive a Rural Housing and Economic Development
Innovative grant award in the amount of $210,400. This award will provide support for the construction of five
green seasonal farm labor housing unit developments, the creation of twenty jobs as well as job training in the rural area of Hyde County. Partners for this project are Elizabeth City State University, Hyde County, Beaufort County Community College, and North Carolina Employment Security Commission. The proposed leveraging for this project is $213,000. Hollister R.E.A.C.H., Inc. in Hollister, NC will receive a grant award in the amount of $299,850. This award will provide support for an alternative innovative septic system project for low income multi-family units in the areas of Hollister and Halifax counties with housing developments and businesses. Partners for this project are C.A.R.D., Warner Foundation, Southern Partners Fund, and Halifax County Schools. The proposed leveraging for this project
"HUD is deeply invested in promoting affordable housing and community development throughout rural America,"
said Preston. "These grants will stimulate the kind of employment, economic growth, and housing development that will have a direct impact on working families in our rural communities."
Rural Housing and Economic Development (RHED) grants help pay for land acquisition, new home construction, housing demolition, infrastructure improvements and construction training. Other possible uses include
homeownership and financial counseling; financial assistance to homeowners, businesses and developers; creating microenterprises and small business incubators; and establishing lines of credit or revolving loan pools to benefit the local business community. In addition to the funding announced today, rural communities are expected to generate nearly $59 million from other public and private sources to promote economic development and employment.
Qualified applicants are local rural nonprofit organizations, community development corporations, federally
recognized Indian tribes, State housing finance agencies and/or local economic development agencies. RHED grants have provided nearly $223 million, creating/training more than 35,000 jobs, assisting nearly 5,500 businesses and producing 14,000 affordable homes.
Rural communities will use this funding as seed money to pay the start-up costs for housing or economic
development projects. These grants will also help organizations to hire and train their staffs, develop strategic
plans and acquire office space and other needed facilities.