|HUD R3 No. 18-36
October 2, 2018
HUD APPROVES $1 MILLION LOAN GUARANTEE FOR INFRASTRUCTURE IMPROVEMENTS IN WINCHESTER
RICHMOND, VA - The U.S. Department of Housing and Urban Development (HUD) today announced the approval of a $1 million loan guarantee to the City of Winchester to partially fund improvements to the City's deteriorating sidewalks. Infrastructure improvements to the city sidewalks has been identified by the City as a high priority to address resident concerns over the poor conditions of existing sidewalks.
Of the 133 miles of sidewalks the City of Winchester is responsible for, over 45 miles of those sidewalks need repair, creating a safety issue for residents. With the assistance of Section 108 funds, the City will improve 11,000 linear feed of hazardous sidewalks. The targeted areas for sidewalk replacement are located in Winchester's North End Neighborhood, which is a majority low- and moderate-income area.
HUD is providing the loan guarantee assistance under its Section 108 Loan Guarantee Assistance Program which enables local governments to borrow money from private investors at reduced interest rates. State and local governments use this financing to assist with a variety of community and economic development projects, including those projects that create employment opportunities. Over the years, Section 108 guarantees generally have generated $4 of private investment for every $1 in Section 108 guarantee.
"Communities where residents can walk and bicycle are increasingly in demand; providing low-cost transportation and significant health benefits for residents," said Joe DeFelice, Regional Administrator of HUD's Mid-Atlantic region. "This loan guarantee will enable the City to focus on making their sidewalks safer and will undoubtedly encourage walking as an alternative form of mobility."
According to the City's application to HUD, the proposed sidewalk replacement project will not only increase safety for the neighborhood population traversing the sidewalks, but the improvements will also help the City increase walkability in the community. Connecting the gaping segments of sidewalks will enable the City to meet the Americans with Disabilities Act (ADA) Accessibility Guidelines as well as provide a safe and equitable form of mobility for residents and visitors.
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. The Department's Mid-Atlantic region includes Delaware, Maryland, Pennsylvania, Virginia, Washington, D.C. and West Virginia. The regional office is in Philadelphia. Follow Regional Administrator Joe DeFelice on Twitter.
More information about HUD and its programs is available at www.hud.gov and www.espanol.hud.gov. Connect with HUD on social media or sign up for news alerts via HUD's email list. Follow Secretary Carson on Twitter, Facebook and Instagram.