BUSH ADMINISTRATION ANNOUNCES MORE THAN $710 MILLION TO HELP VERY LOW-INCOME ELDERLY
$1,091,600 goes to Jamestown

JAMESTOWN - It will soon be easier for thousands of senior citizens to find affordable housing, thanks to more than $710 million in housing assistance announced by Housing and Urban Development Secretary Alphonso Jackson.
These grants will help the nation's very low-income elderly find decent, safe housing that they can afford.

The City of Jamestown, Tennessee and the Cumberland Regional Development Corporation are the recipients of $1,091,600 that will be used to construct 5 one-bedroom units and 5 two-bedroom units for persons with physical disabilities. One of the units will be designed to meet the provisions of the Uniform Accessibility Code and one additional unit will incorporate provisions for the visually and hearing impaired. There will also be a community room with warming kitchen and laundry area. The funds are in the form of Capital Advance, $951,100, and $140,500 five-year rental subsidy.

"We are proud and pleased that these funds will go to improve the lives of senior citizens in Fentress County", said Mark Brezina, Knoxville HUD Field Office Director.

Congressman Lincoln Davis, representing Tennessee's 4th district said: "This project is the prefect example of the good that results from non-profit organizations working with the government for the betterment of others. It is
always special when you can help others have a home. This project will do just that for people with disabilities living
in Jamestown."

HUD's Section 202 grants program helps expand the supply of affordable housing with supportive services for the elderly. It provides very low-income elderly with options that allow them to live independently but in an environment that provides support activities such as cleaning, cooking, and transportation.

In addition to funding the construction and rehabilitation of projects to create apartments, HUD Section 202 grants will subsidize rents for five years so that residents will pay only 30 percent of their adjusted incomes as rent.

To be eligible for the assistance, a household must be classified as "very low-income," which means an income less than 50 percent of the area median.

HUD provides two forms of Section 202 funds to non-profit groups:

• Capital advances. This money covers the cost of developing the housing. It does not need to be repaid
  if the housing is available for occupancy by very low-income seniors for at least 40 years.
  
  
• Project rental assistance. This money covers the difference between the resident's contribution toward
  rent and the cost of operating the project.

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.

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