|HUD No. 05-OR-9
November 14, 2005
HUD ANNOUNCES $2.6 MILLION FOR ECONOMIC DEVELOPMENT AND AFFORDABLE HOUSING IN SALEM
PORTLAND - Housing and Urban Development Secretary Alphonso Jackson today announced the City of Salem and
the Salem-Keizer Consortium will receive a total of over $2.6 million to stimulate economic development, produce
more affordable housing and help homeless individuals and families.
"Today, we make another investment with our local partners in Salem so that together we can breathe new life into our neighborhoods," said Jackson. "By generating more economic development and job growth, producing more affordable housing and helping our most vulnerable neighbors, we can create healthier, more vital communities."
The funding announced today includes:
- $ 34,571 in American Dream Downpayment Initiative funding;
- $ 1,650,091 in Community Development Block Grant (CDBG) funds; and,
- $ 988,908 in HOME Investment Partnerships (HOME) funding.
American Dream Downpayment Initiative (ADDI) grants are awarded through HUD's HOME program. Under this initiative eligible low-income families buying their first home can qualify for downpayment and closing cost assistance through programs designed by the local community. The Salem-Kaiser Consortium assisted 28 first time homebuyers with downpayment assistance to purchase homes in Salem and Kaiser from July 1, 2004 through June 30, 2005.
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. In 2004-5, HOME funds assisted the new construction of 11 units of low-income farmworker housing in a 48-unit housing project in Salem. The units are affordable for farmworker individuals and families with incomes at or below 50 percent of median family income.
Since 1974, HUD's Community Development Block Grant (CDBG) Program has awarded more than $112 billion to state and local governments to target their own community development priorities. From July 1, 2004 through June 30, 2005, the City of Salem assisted over 3,200 persons through social service agencies with CDBG funding.
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.