Washington D.C. – August 30, 2010 – (RealEstateRama) — Today, U.S. Senator Charles E. Schumer announced that the City of Jamestown has been awarded $1,940,046 in housing grants from the U.S. Department of Housing and Urban Development (HUD). The funding comes from two programs within HUD. The City will receive $1,520,053 in funding in Community Development Block Grants (CDBG) which assist state and local governments as they seek to revitalize communities through infrastructure upgrades and affordable housing. Additionally, Jamestown will receive $419,993 from the HOME grant program which brings together local governments and community non-profits to improve neighborhood housing.
“Every New Yorker deserves a decent, clean and affordable place to live,” Schumer said. “With housing costs on the rise, this program is essential to help hardworking families and seniors across Jamestown establish a residence within the community. These grants will also help improve Jamestown’s infrastructure and public facilities to help attract businesses and ensure the availability of affordable housing. I will continue to work to increase funding for housing opportunities across Jamestown.”
The Community Development Block Grant (CDBG) program is a flexible program that provides localities with resources to address a wide range of unique community development needs. Beginning in 1974, the CDBG program is one of the longest continuously run programs at HUD. The CDBG program provides annual grants on a formula basis to local governments and States.
The HOME grant program is the largest Federal block grant to State and local governments designed exclusively to construct affordable housing. Each year it allocates approximately $2 billion among the States and hundreds of localities nationwide.
The City of Jamestown will use funding from its CDBG and HOME grants to upgrade critical infrastructure such as roads, sidewalks and lighting in neighborhoods along with providing increased access for citizens with disabilities. Additionally, the funds will be used to improve downtown buildings and demolish vacant properties- working to improve neighborhoods and increase property values for homeowners.
