Tag Archives: U.S. Department of Housing and Urban Development (HUD)

HUD Awards Funds to Boost Economic Development in Two U.S. Regions

In two press releases, the U.S. Department of Housing and Urban Development (HUD) announced that it is awarding $1.5 million in the Lower Mississippi River Delta, and $550,000 in the Appalachian region, to stimulate local economies, produce more affordable housing, and boost job growth.

In the Lower Mississippi River Delta, the funding is provided through the Delta Community Capital Initiative (DCCI). San Antonio-based LiftFund will receive a $1 million grant. Community Resource Group and Southern Bancorp Capital Partners will each receive grants of more than $200,000. Each of these grantees’ projects involve increasing lending to small businesses and entrepreneurs in eligible Delta regions and are summarized in the press release at the bottom of the page.

In the Appalachian region, funding is provided through HUD’s Appalachian Economic Development Initiative (AEDI). There HUD is awarding $200,000 to the Kentucky Department for Local Government and $350,000 to the Maryland Department of Housing and Community Development (DHCD) to help these organizations provide small business loans in economically distressed Appalachia. Summaries of these projects are likewise provided in the press release.

In speaking of both regions, HUD Secretary Julián Castro emphasized the role of business development and job creation in helping to produce more affordable housing opportunities. With reference specifically to Appalachia:

“This funding, coupled with private investment, will spark economic development, create jobs, increase access to affordable housing, and strengthen communities. HUD looks forward to working with local leaders in continued partnership to build a more prosperous tomorrow.”

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Obama expected to nominate Donovan to OMB, Castro to HUD

Share on TumblrPublished: May 19, 2014                    Posted by: Nan McKay and Associates Blog On Saturday several media outlets, including the New York Times and Washington Post, reported that President Barack Obama plans to nominate HUD Secretary Shaun Donovan to replace … Continue reading

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HUD Marks Fair Housing Month

Share on TumblrWASHINGTON – Each April, the U.S. Department of Housing and Urban Development (HUD) uses Fair Housing Month to mark the passage of the 1968 Fair Housing Act, the landmark law passed shortly after the assassination of Dr. Martin … Continue reading

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