|HUD No. 06-24
April 11, 2006
HUD GIVES ERIE COUNTY OVER $4 MILLION FOR AFFORDABLE HOUSING
AND COMMUNITY DEVELOPMENT
NEW YORK - Housing and Urban Development Secretary Alphonso Jackson today announced that Erie County will receive over $4 million to promote a variety of community development and affordable housing programs. HUD
funding will also provide downpayment assistance to first-time homebuyers and assist individuals and families who might otherwise be living on the streets.
"This funding will help build better communities from the ground up," said Jackson. "Whether it's assisting
communities to improve their infrastructure or helping first-time homebuyers to realize their ‘American Dream,' HUD
is helping neighborhoods become better places to live and work."
The total funding of $4,520,417 announced today includes:
- $3,251,630 in Community Development Block Grant (CDBG) funds;
- $1,123,650 in HOME Investment Partnerships (HOME) funding;
- $21,089 in American Dream Downpayment Initiative (ADDI); and
- $124,048 in Emergency Shelter Grant (ESG).
Since 1974, HUD's Community Development Block Grant(CDBG) Program has awarded approximately $115 billion to state and local governments to target their own community development priorities. CDBG is one of HUD's oldest and most flexible and popular programs. The rehabilitation of affordable housing and construction of public facilities and improvements have traditionally been the largest uses 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, poverty, the 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 almost 670,000 affordable housing units, including over 282,000 for new homebuyers. In addition, over 138,000 tenants have received direct rental assistance.
The American Dream Downpayment Initiative (ADDI) helps 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. Since the program's inception, ADDI has assisted over 14,400 households to purchase their first home. 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, along with more than
$1 billion HUD grants awarded by competition, helps thousands of local homeless assistance programs to help those who would otherwise call the streets their home.
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.