CUOMO ANNOUNCES $4.5 MILLION IN HUD HOUSING AND COMMUNITY DEVELOPMENT FUNDS FOR SCHENECTADY, NEW YORK

WASHINGTON - Housing and Urban Development Secretary Andrew Cuomo today announced $4.5 million in HUD grants for housing and community development programs in Schenectady, New York.

"These funds will go toward community-based solutions to the housing and economic development challenges Schenectady faces," Cuomo said. "We are funding a comprehensive strategy to create jobs and affordable housing, help homeless individuals become and remain self-sufficient, and increase homeownership."

Under the City of Schenectady's 1998 Consolidated Plan for funding, which was approved by HUD, Schenectady will receive $3.1 million in Community Development Block Grant funds; $1.3 million under the HOME Investment Partnership program; and $124,000 in Emergency Shelter Grant funds for homeless programs.

Among the housing and community development efforts to be funded by the city this year are: public services; public facilities; housing rehabilitation; first-time homebuyer assistance; and assistance for homeless persons.

The Consolidated Planning process, developed by Secretary 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.