HUD AWARDS VIRGINIA UNIVERSITY OF LYNCHBURG $600,000 FOR HISTORICALLY BLACK COLLEGES AND UNIVERSITIES (HBCU) GRANT

RICHMOND - U.S. Housing and Urban Development Secretary Steve Preston today awarded Virginia University of Lynchburg $600,000, out of the nearly $9 million to 13 historically Black colleges and universities, to help revitalize Fairview Heights neighborhood. Preston made the announcement at the 2008 National Historically Black Colleges
and Universities (HBCU) Week Conference in Washington.

"Historically black colleges and universities are anchors for economic development in their communities, and I'm pleased HUD can play a role in helping to support the neighborhoods that surround these important institutions of higher learning," said Preston. "HUD is proud of our partnership with these colleges and universities to help them improve neighborhoods, offer needed public services, and stimulate community development around their campuses."

The White House Initiative on Historically Black Colleges and Universities is coordinating the four-day national conference commemorating National HBCU Week.

Virginia University of Lynchburg intends to use its Historically Black Colleges and Universities (HBCU) grant to expand its capacity to deliver community development services to the highly distressed and Fairview Heights neighborhood
in urban Lynchburg, Virginia. Through the proposed Virginia University of Lynchburg Community Development Project, the university will engage in two activities that contribute to neighborhood revitalization in the target area Fairview Heights. In their first proposed activity, the university will build and sell a total of two new affordable, quality homes to low- to moderate-income people who seek homeownership. In their second activity, they will rehabilitate three deteriorating homes owned and occupied by low-income persons, at no charge to them.

HUD's Historically Black Colleges and Universities (HBCU) Program (www.oup.org/programs/aboutHBCU.asp) is designed to help these institutions address pressing community development needs in their communities. These
needs include neighborhood revitalization, housing, and economic development, and other programs that benefit
low- and moderate-income families.

Since 1991, HUD has awarded approximately $147 million to stimulate economic and community development in the neighborhoods surrounding the HBCUs. The HBCU Program is one of several initiatives administered by HUD's Office
of University Partnerships (OUP). Established in 1994, OUP is a catalyst for partnering colleges and universities with their communities in a shared search for answers to pressing urban problems. More information about OUP and its programs is available on the Internet at www.oup.org.

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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 and enforces the nation's fair housing laws. More information about HUD and its programs is available on the
Internet at www.hud.gov and espanol.hud.gov.