|HUD No. 00-241|
|Further Information:||For Release|
|In the Washington, DC area: 202/708-0685||Thursday|
|Or contact your local HUD office||September 14, 2000|
HUD SWEAT EQUITY PROGRAM HELPS LOW-INCOME FAMILIES BUY HOMES
WASHINGTON- - Housing and Urban Development Secretary Andrew Cuomo today released $20 million in grants that will reduce the cost of a home for some 2,000 low-income families who are willing to invest sweat equity into their futures.
The recipients of the Self-Help Homeownership Opportunity Program grants were announced at a press briefing held by Cardell Cooper, HUDs Assistant Secretary for Community Planning and Development.
"SHOP is an innovative HUD program because it requires homebuyers to contribute significant amounts of sweat equity toward the construction or rehabilitation of their homes," Cuomo said. "Because of SHOP, many families with low-incomes will now be able to buy homes and create brighter futures for themselves."
HUDs SHOP grants enable families with
incomes below 80 percent of the median income in their communities to become
homeowners through sweat equity contributing their own labor to help
with such tasks as painting, landscaping, carpentry and roofing.
The competitively awarded grants are based upon an organizations experience in implementing a sweat equity program; ability in identifying community needs; ability in leveraging HUD resources; and soundness of the organizations proposed solution. This years grants went to the following non-profit national or regional groups:
- Habitat for Humanity of Americus, GA -
$10,298,400. The national organization expects to help an estimated 1,029
homeowners in urban, suburban and rural areas around the country. [Telephone
- Housing Assistance Council of Washington,
DC $8,091,600. The national organization will distribute funds
primarily to people in rural areas nationwide, helping an estimated 809
homeowners. [Telephone 202-842-8600.]
- Northwest Regional Facilitators of Spokane, WA $1,610,000. The group will primarily serve people in Washington State, Idaho, Oregon and Montana, helping an estimated 147 homeowners. [Telephone 509-484-6733.]
The SHOP grants were first awarded in 1999.