News Release

HUD ANNOUNCES $418,000 FOR AFFORDABLE HOUSING AND COMMUNITY DEVELOPMENT IN SLIDELL AND THIBODAUX
HUD to support a variety of local housing and development programs

FORT WORTH - U.S. Housing and Urban Development Secretary Alphonso Jackson today announced that Slidell and Thibodaux will receive $418,676 to promote a variety of community development and affordable housing programs. HUD funding will also provide downpayment assistance to first-time homebuyers and assist individuals and families who might otherwise be living on the streets.

"This funding helps breathe new life into neighborhoods," said Jackson. "By helping communities to improve their infrastructure or assisting families to purchase their first home, HUD is helping improve neighborhoods from the ground up."

The funding announced today includes:

• $418,676 in Community Development Block Grant (CDBG) funds.

Since 1974, HUD's Community Development Block Grant (CDBG) Program has received approximately $120 billion for state and local governments to target their own community development priorities. The rehabilitation of affordable housing and the improvement of public facilities have traditionally been the largest uses of the grants, although CDBG is also an important catalyst for job growth and business opportunities. In 2006, communities reported that CDBG provided housing assistance to 179,385 households, assisted in the creation or retention of more than 55,000 jobs. CDBG funds are distributed to grantees according to a statutory formula based on a community's population, poverty, and age of its housing stock, and extent of overcrowded housing.

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

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