CUOMO ANNOUNCES $274 MILLION IN HUD HOUSING AND COMMUNITY DEVELOPMENT FUNDS FOR NEW YORK CITY

WASHINGTON - Housing and Urban Development Secretary Andrew Cuomo today announced $274 million in HUD grants for housing and community development programs in New York City.

"These funds will go toward community-based solutions to the housing and economic development challenges faced by New York City," Cuomo said. "We are funding a comprehensive strategy to create jobs and affordable housing, help homeless individuals become and remain self-sufficient, provide housing assistance to people with AIDS, and increase homeownership."

Under New York City's 1998 Consolidated Plan for funding, which was approved by HUD, New York City will receive $220.5 million in Community Development Block Grant funds; $8.75 million in Emergency Shelter Grants for homeless assistance; and $44.5 million through the Housing Opportunities for Persons with AIDS (HOPWA) program.

Senator Daniel Patrick Moynihan said: "This assistance will strengthen New York City and help those who live and work there. I trust that these funds can only further the good work that has already occurred. I commend the Secretary and the Administration for their diligence and their concern for New York."

Senator Alfonse M. D'Amato said: "These funds will help create thousands of affordable housing and job opportunities, provide services to the elderly and transition the homeless to self-sufficiency. Mayor Giuliani should be commended for putting together a successful plan." D'Amato helped create the HOPWA program, which was among the programs funded with the aid announced today.

Mayor Rudolph W. Giuliani said: "For a number of years, New York City has been a leader in community development and neighborhood revitalization. HUD's recent award of $274 million will help the City to achieve its goal of revitalizing and further developing neighborhoods throughout the City. As a result, this additional funding will encourage private investment, create new jobs and improve economic conditions for all New Yorkers."

Among the housing and community development efforts to be funded by New York City this year are: commercial revitalization and neighborhood preservation activities; the rehabilitation of city-owned buildings; public services for the elderly; and comprehensive housing services for homeless individuals and families and persons living with HIV/AIDS.

The Consolidated Planning process, developed by Cuomo when he served as HUD Assistant Secretary for Community Planning and Development, ensures that local residents have strong input into the creation of comprehensive, community-based housing and economic development plans.

The streamlined funding process gives communities maximum local flexibility, while reducing burdensome regulatory requirements. Local HUD staff are empowered to work closely with communities to customize Consolidated Plans and help them realize their housing and economic development goals.