|HUD No. 07-41
August 20, 2007
HUD ANNOUNCES OVER $3 MILLION TO ROCKLAND COUNTY TO STIMULATE ECONOMIC DEVELOPMENT AND HOUSING
NEW YORK - The County of Rockland will receive over $3 million in funding from the Department of Housing and
Urban Development 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 helps breathe new life into neighborhoods," said Jackson. "By helping communities to improve their infrastructure or assisting families to purchase their first home, HUD is helping improve neighborhoods from the
The funding announced today includes:
- $2,153,432 in Community Development Block Grant (CDBG) funds;
- $1,047,293 in Home Investment Partnerships (HOME) funding;
- $16,817 in American Dream Downpayment assistance (ADDI); and
- $93,301 in Emergency Shelter Grant (ESG).
For the past 30 years, HUD's Community Development Block Grant (CDBG) Program has awarded over $120 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.
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 committed to produce nearly 785,000 affordable housing units, including over 329,000 for new homebuyers purchasing their first home. In addition, over 164,000 tenants have received direct rental assistance.
The American Dream Downpayment Initiative (ADDI) helps first-time homebuyers with the biggest hurdles 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 nearly 24,000 households to purchase their first home. Information about this program is available on HUD's website.
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 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.