Washington, D.C. – July 20, 2009 – (RealEstateRama) — Congressman Eliot Engel announced the city of Yonkers was awarded a $1,001,857 grant as part of the American Recovery and Reinvestment Act (ARRA). The grant comes from the U.S. Housing and Urban Development (HUD), through its Community Development Block Grant Program (CDBG).
Rep. Engel said, “I am pleased to be able to support low- to moderate-income families through this grant for the people of Yonkers. This will help people live in better living environments, and help to obtain affordable housing and economic opportunities. This will also help the city of Yonkers revitalize its neighborhoods, and provide the necessary economic boost to the city and improved job opportunities for its residents.”
CDBG targets the rehabilitation of affordable housing and the construction and improvement of public facilities. The program is also a catalyst for job growth and business opportunities. Annual CDBG funds are distributed to communities according to formulas based on population, poverty, pre-1940s housing stock, growth lag and housing overcrowding.
The 11-term Congressman added, “I am pleased to have supported and voted for ARRA and it is encouraging to see the results become tangible. These funds will help the city and its residents as we move the country through these difficult economic times.”
