SECRETARY CUOMO ANNOUNCES RELEASE OF MORE THAN $57 MILLION IN ANNUAL HOUSING AND URBAN DEVELOPMENT FUNDS FOR FLORIDA

DAYTONA BEACH, FLORIDA - Housing Secretary Andrew Cuomo today announced the release of more than $57 million in annual HUD grants for Florida's housing and community development programs. Cuomo announced the funds, awarded annually to the state, in conjunction with President Clinton's disaster relief visit to the state. The state may use a portion of these funds to assist in disaster relief if it so chooses, Cuomo said.

"These funds will go toward community-based solutions to Florida's housing and economic development challenges," Cuomo said. "We are funding a comprehensive strategy to create jobs and affordable housing, help homeless individuals and persons with AIDS become and remain self-sufficient, and increase homeownership. Because of the flexibility of this funding, the state may also devote a portion of these dollars to aid fire-ravaged communities."

Under the State of Florida's 1998 Consolidated Plan for funding, which was approved by the Department of Housing and Urban Development, the state will receive $33.1 million in Community Development Block Grant funds; $19.04 million in funding under the Home Investment Partnership (HOME) program; $2.5 million in Emergency Shelter Grants for homeless assistance; and $2.9 million for Housing Opportunities for Persons with AIDS (HOPWA). Total funding to the state for Fiscal Year 1998 is $57.561 million.

Cuomo pledged that HUD would work closely with Florida Governor Lawton Chiles and state officials in assuring that the Department's programs may be fully utilized in the state's disaster recovery effort. HUD assistance can be used to restore, rebuild and replace homes and businesses; to repair and rebuild public buildings and facilities; and to pay for increased costs of providing public services. HUD assistance will supplement aid from the Federal Emergency Management Agency, the Small Business Administration and other federal agencies.

In addition, the Federal Housing Administration, which is a part of HUD, is issuing a memorandum to FHA lenders placing a six-month moratorium on foreclosures of FHA-insured home mortgages, to prevent people hit hard by the devastating fires from losing their homes.