Community Development and Housing Initiatives to Help Strengthen Economy
Washington, D.C. – September 10, 2009 – (RealEstateRama) — Congressman Pete Visclosky today announced support for Lake County to build viable urban communities through the U.S. Department of Housing and Urban Development’s (HUD) Community Development Block Grant (CDBG) program and HOME program. The HUD initiatives are designed to increase homeownership, support community development, and increase access to affordable housing in order to strengthen the local economy.
“Everybody should have reasonable access to decent, affordable housing and economic opportunities,” said Visclosky. “CDBG and HOME are designed to help create urban communities with affordable housing options, in turn spurring economic development and jobs for local residents. People across Lake County will benefit from these programs.”
CDBG provides communities with resources to address a wide range of unique community development needs. The CDBG program works to ensure decent affordable housing, to provide services to the most vulnerable in our communities, and to create jobs through the expansion and retention of businesses. CDBG is an important tool for helping local governments tackle serious challenges facing their communities, awarding grants to develop viable urban communities by providing decent housing and a suitable living environment, and by expanding economic opportunities, principally for low- and moderate-income people. Lake County will receive $1,337,688 through CDBG.
HOME provides communities with grants to fund a wide range of activities that help expand the supply of decent, affordable housing to low- and very-low income families. HOME grants may be used to provide home purchase or rehabilitation financing assistance to eligible homeowners and new homebuyers, to build or rehabilitate housing for rent or ownership, or for other efforts related to the development of housing. Lake County will receive $682,008 through HOME.
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