July 22, 2004
BUSH ADMINISTRATION ANNOUNCES $739,000 TO STIMULATE ECONOMIC DEVELOPMENT
AND HOUSING IN MEDFORD
HUD grants targeted to lower income persons and families in need
PORTLAND, OR � The City of Medford will receive $739,000 in federal funding from the Department of Housing and Urban Development to stimulate its local economy and produce more affordable housing. HUD Secretary Alphonso Jackson said the funding represents another investment in improving the living conditions for Medford'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 Housing and Urban Development Secretary Alphonso Jackson. "These funds reinforce our commitment to rebuilding entire communities."
"We are pleased to announce this grant to the City of Medford,"
said Tom Cusack, HUD's Portland Field Office
Director. "These funds enable the City to continue rehabilitation projects that will benefit the residents of Medford, especially lower income families."
The funding announced today is provided through HUD's Community
Development Block Grant (CDBG) Program. For the past 30 years,
CDBG has awarded over $108 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 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.