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NATIONAL PARTNERS IN HOMEOWNERSHIP ANNOUNCE COMPETITION TO LOWER HOMEBUILDING COSTS
The U.S. Department of Housing and Urban Development (HUD) and the National Partners in Homeownership have launched a nationwide program to recognize and assist developers who use innovative construction techniques to lower the cost of building affordable homes.
This is one of many steps being taken by HUD and the National Partners in Homeownership as they seek to achieve President Clinton's goal of creating 8 million new homeowners by the year 2000.
HUD Secretary Henry G. Cisneros said the recognition program, called Building Innovation for Homeownership, "will lead the way in encouraging construction innovations that can reduce costs for homebuyers a critical step in making the American Dream of homeownership come true for more families."
The National Partners in Homeownership include more than 50 groups--lenders, home builders, nonprofit groups, and government agencies--convened by President Clinton in 1995 to carry out the National Homeownership Strategy.
Cutting costs of housing materials and construction is a key strategy of the National Partners. Twenty eight of the 100 actions detailed in the National Homeownership Strategy are aimed at reducing production costs.
In soliciting nominees for the Building Innovation for Homeownership program, Assistant Secretary Michael A. Stegman said, "HUD is seeking technologies and techniques that will lower the initial or life-cycle costs of housing, increase energy or other resource efficiency, or enhance housing comfort or quality. This has been a long-standing goal of the HUD research program."
Projects selected for the Building Innovation for Homeownership program will receive national recognition for their contributions to increase affordable homeownership, and will be entitled to use the award designation in marketing and advertising.
When possible, the Partners or local affiliate Partners will offer various kinds of support to make the winning projects even more affordable and to speed their completion. This aid might include special homebuyer financing packages, homeownership counseling, or assistance in resolving regulatory impediments.
HUD is committed to ensure that existing Federal housing and community development programs support these projects.
Eligible projects may be any form of single-family dwelling that is currently or soon to be under construction. The Partnership particularly seeks projects that employ a broad variety of techniques, including manufactured and modular housing, rather than projects that utilize single or limited numbers of innovations. All submissions must explain how the project promotes affordable housing opportunities. The Partnership encourages applications from developers who serve very low-income or other special homebuyer needs.
The deadline for nominations to the Building Innovation for Homeownership program September 15, 1996. For further information or a submission form, please contact:
P.O. Box 6091
Rockville, MD 20849
Attention: Rebecca Hollands
1 800 245 2691
Content Archived: January 20, 2009