Evansville Learns of Stimulus Funding

By
Real Estate Agent with F.C.TuckerEmge Realtors, LLC

  The city of Evansville says it will receive $2 million from the U.S. Department of Housing and Urban Development (HUD) as part of the American Recovery and Reinvestment Act. Nearly $796,000 will be provided in Community Development Block Grants and another $1.2 million in Homeless Prevention Funds. The Evansville Housing Authority will also receive $1.8 million in Public Housing Capital Funds from the stimulus. The State of Indiana received more than $176 million of the $10 billion allocated today by HUD.      

Evansville, Ind. -- The City of Evansville was notified today that the U.S. Department of Housing and Urban Development (HUD) has allocated $2,013,562 to the City of Evansville as part of the American Recovery and Reinvestment Act (ARRA). Evansville will receive $795,964 in Community Development Block Grants (CDBG) and $1,217,598 in Homeless Prevention Funds. The State of Indiana received more than $176 million of the $10 billion allocated today by HUD.   "The CDBG monies will be used for revitalization in our older neighborhoods including building new homes, rehabilitating others, demolishing those that are beyond repair and for infrastructure improvements," said Mayor Jonathan Weinzapfel. "The Homeless Prevention Funds will be used to help residents pay their rent and utility bills in order to help keep them in their homes rather than becoming homeless. In addition, the City has already asked the local Commission on Homelessness to make recommendations on how the funds should be utilized."   The CDBG program provides annual grants on a formula basis to entitled cities (like Evansville), urban counties and states 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 persons. The ARRA funds are in addition to the $2,931,741 in CDBG funds the City received in 2008 as part of its regular allocation from HUD.   In 2008, the City received an allocation of $131,402 from HUD for the Emergency Shelter Grants program (ESG). ESG provides homeless persons with basic shelter and essential supportive services. It can assist with the operational costs of the shelter facility, and for the administration of the grant. ESG also provides short-term homeless prevention assistance to persons at imminent risk of losing their own housing due to eviction, foreclosure or utility shutoffs.   The Evansville Housing Authority (EHA) will also receive $1,835,255 in Public Housing Capital Funds from the ARRA.   The $10 billion allocated today by HUD is nearly 75% of its funding made available through ARRA. ARRA includes $13.61 billion for projects and programs administered by HUD. The funding announced today is primarily formula-based, meaning that it is allocated using set program criteria that do not require grantees to apply for the funds, allowing them to be allocated very quickly. The remaining 25% of the funds will be competitively awarded later including funds to promote green jobs and mitigate the destabilizing effects of foreclosures on communities.   Source:  Inside INdiana Business & City of Evansville

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Rainer
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Kacem Benali Bethesda & Rockville REALTOR
Rockville & Bethesda Homes for Sale, I can help sell ur home - Rockville, MD

Sounds like good news for you guys...  Good luck.

Mar 01, 2009 08:33 AM #1
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