BONO MACK, HUD ANNOUNCES $2.36 MILLION FOR AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT IN MORENO VALLEY
Washington,
Aug 18 -
Congresswoman Mary Bono Mack (CA-45), joined by U.S. Housing and Urban Development Assistant Secretary Susan Peppler, today announced that Moreno Valley will receive more than $2.3 million to support community development and produce more affordable housing. HUD’s annual funding will also help first-time homeowners with their downpayment; assist individuals and families who might otherwise be living on the streets; and offer housing solutions for individuals living with HIV/AIDS.
"This funding will help boost our local economy and create new opportunities for residents throughout the Moreno Valley area," said Bono Mack. "I am pleased to have supported these funds that will give the City the resources and flexibility it needs to help individuals and families throughout our community. This is an investment that will spark growth and development in our region, which is especially important during this tough economic time."
"This funding helps communities build better neighborhoods from the ground up," said Peppler. "Whether it’s improving infrastructure or producing more homes families can afford, HUD grants have the potential to breathe new life into communities and make them better places to live and work."
"Moreno Valley is committed to using CDBG and other funding from HUD in the most cost effective manner possible to have the greatest benefit at improving the livability of the community," said Moreno Valley Mayor William Batey. "Moreno Valley is a dynamic and diverse city and our many different CDBG programs reflect that diversity."
Specifically, the funding announced today includes:
Ø $1,764,616 in Community Development Block Grant (CDBG) funds;
Ø $599,612 ,in HOME Investment Partnerships (HOME) funding;
Ø $3,144 in American Dream Downpayment Initiative assistance (ADDI);
Ø $2,367,372 TOTAL
Bono Mack voted in favor and helped pass the Consolidated Appropriations Act (H.R. 2764), which authorized federal funding in Fiscal Year 2008 for HUD’s grant programs, including CDBG, ADDI, and HOME.
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