Jul 02 2004

SHELBY ANNOUNCES OVER $2.4 MILLION FOR HOME OWNERSHIP PROGRAMS IN HUNTSVILLE

U.S. Senator Richard C. Shelby (R-Ala) announced today that the U.S. Department of Housing and Urban Development (HUD) will soon be releasing $2,463,773 for housing and community revitalization programs in Huntsville. This grant is part of HUD’s commitment to provide home ownership opportunities for all Americans.

The funds will be awarded as follows:

 

  • •$1,559,000 in a Community Development Block Grant, which allows state and local governments to develop urban communities by providing housing and economic opportunities for low and moderate-income individuals.

     

  • •$778,159 for the HOME Investment Partnership. This program helps expand affordable housing opportunities for low and very low-income families by providing grants to state and local governments to fund housing programs to meet the needs and priorities of the local community.

     

  • •$126,614 for the American Dream Downpayment Initiative. These funds will promote home ownership opportunities by providing necessary resources for downpayment and closing cost assistance to low-income households.

Senator Shelby said, “I am pleased to announce over $2.4 million for these important home ownership programs in Huntsville. These grants will provide more low-income families in the Huntsville area with the opportunity to own a home and achieve a piece of the American dream.”