<home> -- <press releases> News from Congresswoman Madeleine Z. Bordallo Guam Receives Another Stimulus Grant from HUD $100,000 Grant Awarded for Neighborhood Stabilization Program FOR IMMEDIATE RELEASE – March 19, 2009 – Washington, D.C. – Congresswoman Bordallo today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded $100,000 to the Government of Guam for the recently created Neighborhood Stabilization Program (NSP). The funds awarded today are a result of the American Recovery and Reinvestment Act (ARRA). Through the ARRA, Guam is eligible for more than $140,000,000 in direct funding through formula grants in addition to $60,000,000 in tax credits that will be covered in full by the U.S. Treasury. The funds awarded for the Neighborhood Stabilization Program will help the Government of Guam in the acquisition, redevelopment, and resale of foreclosed homes on Guam. The Guam Housing and Urban Renewal Authority (GHURA) has already received $2,000,000 in stimulus funds for public housing development and retrofitting. GHURA is expected to receive a total of more than $6,000,000 from HUD for the Public Housing Capitol Fund, the Homelessness Prevention Fund, and the Community Development Block Grant as part of the American Recovery and Reinvestment Act. Since President Barack Obama signed ARRA into law on February 17, 2009, Guam has received more than $28,100,000.00 in direct formula grants. “This grant, part of more than $6,000,000 in formula grants for Guam from the Department of Housing and Urban Development, will assist the Guam Housing and Urban Renewal Authority in addressing housing needs for Guam’s working families,” Congresswoman Bordallo said today. “The recovery package continues to invest in Guam’s housing needs and Guam stands to receive over $140 million in direct federal assistance as the recovery package continues to be implemented on our island.” # # # matthew.mateo@mail.house.gov or krystal.agustin@mail.house.gov |
