HUD announces $927,000 for affordable housing and community development in Loudoun County Virginia
WASHINGTON, DC – September 2, 2009 – (RealEstateRama) — U.S. Housing and Urban Development Secretary Shaun Donovan today announced that Fairfax County will receive more than $900 thousand to support community development and produce more affordable housing. HUD’s annual funding will also help individuals and families who might otherwise be living on the streets.
“This funding represents HUD’s continuing investment in helping our local partners improve their communities,” said Donovan. “If we hope to lay the groundwork for sustainable growth and prosperity in the future, it’s critical that we help state and local communities to make the needed improvements and to produce more affordable housing.”
The funding announced today includes:
- $ 927,799 in Community Development Block Grant (CDBG) funds;
Since 1974, HUD’s Community Development Block Grant (CDBG) Program has provided approximately $124 billion to 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 CDBG although the program is also an important catalyst for job growth and business opportunities. Annual CDBG funds are distributed to communities according to a statutory formula based on a community’s population, poverty, and age of its housing stock, and extent of overcrowded housing.
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HUD is the nation’s housing agency committed to sustaining homeownership; 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 and 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.
