HUD AWARDS $300,000 FOR AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT IN RURAL GEORGIA

Posted by HUD

October 12, 2007

$16.8 million in Rural Housing and Economic Development grants awarded nationwide

HINESVILLE, GA - Housing and Urban Development Regional Director Bob Young today awarded $300,000 to one rural housing program in Hinesville, Georgia to stimulate economic development, create jobs and produce more affordable housing. The funding is part of $16.8 million in grants provided through HUD’s Rural Housing and Economic Development Program nationwide.

JCVision and Associates, Inc. in Hinesville received a Rural Housing and Economic Development Innovative grant award in the amount of $300,000. This Innovative award will assist the applicant in constructing 12 housing units. JCVision and Associates, Inc. is a faith-based, grassroots non-profit organization. Partners for this project are the Board of Directors, City of Pembroke, and the Georgia Department of Community Affairs. The proposed leveraging for this endeavor is $448,568.

“This grant awarded today will go a long way toward producing more affordable housing” said Bob Young. “HUD funding, and the private investment these grants will generate, will offer more than just an affordable home to working families. This grant will trigger economic development and breathe new life into this area.”

In addition to the HUD grant announced today, rural communities are expected to generate $448,568 from other public and private sources to promote economic development and employment.

Rural Housing and Economic Development (RHED) grants help pay for land acquisition, new home construction, housing demolition, infrastructure improvements and construction training. Other possible uses include homeownership and financial counseling; financial assistance to homeowners, businesses and developers; creating micro enterprises and small business incubators; and establishing lines of credit or revolving loan pools to benefit the local business community.

Qualified applicants are local rural nonprofit organizations, community development corporations, federally recognized Indian tribes, State housing finance agencies and/or local economic development agencies. RHED grants have provided nearly $190 million, creating more than 12,000 jobs, assisting nearly 8,200 businesses and producing nearly 20,000 affordable homes.

Rural communities will use this funding as seed money to pay the start-up costs for housing or economic development projects. These grants will also help organizations to hire and train their staffs, develop strategic plans and acquire office space and other needed facilities.

HUD is the nation’s housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and, supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development, and enforces the nation’s fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov. For more information about FHA products, please visit www.fha.gov.

For local information please contact: Dana Ingram at (912) 877-4243.
For HUD information contact Linda H. Allen at (404) 331-5001 x 2012

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