|HUD No. 09-64
October 29, 2009
HUD ANNOUNCES OVER $800,000 TO STIMULATE ECONOMIC DEVELOPMENT AND HOUSING IN KINGSTON
NEW YORK - The City of Kingston will receive $816,225 in funding from the Department of Housing and Urban Development to stimulate its economy and produce affordable housing. HUD Secretary Shaun Donovan said the funding represents another investment in improving the living conditions for residents residing in Kingston.
"This funding represents HUD's continuing investment in helping our local partners improve their communities," said Donovan. "If we hope to lay the groundwork for sustainable growth and prosperity in the future, it's critical that we help state and local communities to make the needed improvements and to produce more affordable housing."
The funding announced today includes:
- $816,225 in Community Development Block Grant (CDBG) funds.
Since 1974, 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.
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 and enforces the nation's fair housing laws. More information about HUD and its programs is available on the
Internet at www.hud.gov and espanol.hud.gov.