HUD'S REGIONAL ADMINISTRATOR RICK GARCIA CELEBRATES JOB
CREATION AND NEW HOUSING DEVELOPMENT WITH PROJECT REBUILD AND HUD'S NSP PROGRAM

SALT LAKE CITY - U.S. Housing and Urban Development Regional Administrator Rick M. Garcia held a press conference at the site of "the Plaza on State Street" on Tuesday, November 29, 2011. The project, being developed by Ben Logue of the La Porte Group will provide 180 units of mixed income housing in the heart of Salt Lake's Central
Business District. In addition to housing, the three properties will provide over 25,000 square feet of retail and office space. The project is estimated to create 250 construction jobs as well as 250 permanent positions once completed.

"For Salt Lake, having a project that brings together a mix of households of different incomes, with space designed
to offer employment and services, demonstrates how the city continues to make this an open, accessible and welcoming place for everyone." said Mr. Garcia. He went on to say "Supporting this type of diversity in development will truly make Salt Lake a more sustainable community for its current and future citizens."

During his remarks Mr. Garcia indicated that the Neighborhood Stabilization Program, known as NSP is tied to Project Rebuild, which is part of President Obama's Job Creation Initiative. Project Rebuild will piggyback on the success of NSP and will continue creating jobs, moving foreclosed properties off the market and creating new housing opportunities. Project Rebuild will directly fund commercial and neighborhood revitalization projects that will transform communities in need into communities of opportunity.

The NSP program provided over $24.5 million in funds to Utah since 2008 and has supported the development of 438 housing units and over 200 jobs throughout the state. The $35 million dollar Plaza at State Street received $4.5
million in State NSP dollars along with funds from the Olene Walker Housing Loan Fund, Salt Lake City and its Redevelopment Agency, the Utah Housing Corporation, Citibank and a number of other private and public resources.

###

Press partners: You are invited to join our mailing list and receive news releases and other important information from HUD via email. To subscribe, go to HUD's website.

HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet and espanol.hud.gov. You can also follow HUD on Twitter at @HUDnews or on Facebook at www.facebook.com/HUD. or sign up for news alerts on HUD's News Listserv.