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April 29, 2004
BUSH ADMINISTRATION ANNOUNCES MORE THAN $2.2 MILLION TO STIMULATE ECONOMIC DEVELOPMENT AND HOUSING IN FRANKLIN COUNTY, OHIO
HUD grants targeted to lower income persons and families in need
CHICAGO - Franklin County, Ohio will receive $2,222,000 in Community Development Block Grant (CDBG) funding from the Department of Housing and Urban Development to stimulate its economy and assist families. HUD Secretary Alphonso Jackson said the funding represents another investment in improving the living conditions for Franklin County's 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 impact of CDBG-funded projects can be seen in the housing stock, the business environment, the streets and the public facilities of Franklin County and other entitlement communities across the country," said HUD Midwest Regional Director Joseph P. Galvan.
For the past 30 years, HUD's Community Development Block Grant (CDBG) Program has awarded over $100 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, 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.