WASHINGTON- In an effort to revitalize neighborhoods and provide more Rhode Islanders with access to safe and affordable housing, U.S. Senator Jack Reed (D-RI) today announced that the state of Rhode Island will receive $10,877,914 in federal funding from the U.S. Department of Housing and Urban Development (HUD).

The funds are provided through four different HUD programs: the Community Development Block Grant Program (CDBG), the Home Investment Partnership Program (HOME), the Emergency Shelter Grant Program (ESG) and the American Dream Downpayment Initiative (ADDI).

Community Development Block Grant Program

$5,316,694

HOME Investment Partnership Program

$5,116,654

Emergency Shelter Grant Program

$347,671

American Dream Downpayment Initiative

$96,895

TOTAL

$10,877,914

"This funding provides safe, decent, affordable housing for Rhode Island's working families and seniors," said Reed, a member of the Senate Banking Committee that oversees federal housing policy. "It allows our communities to continue efforts to ensure that current affordable housing is properly maintained and to provide emergency shelter and assistance to those most in need."

The CDBG program funds programs that are designed to assist low- and moderate-income residents, including rehabilitating public buildings, providing low-cost loans and increasing services to neighborhood and senior centers.

The HOME program will allocate funding to assist in rehabilitating housing and the production of affordable rental and homeowner housing.

ESG funds will be distributed to public and private organizations for assistance in providing emergency shelters for the homeless.

ADDI aims to increase the homeownership rate, especially among lower income and minority households, and to revitalize and stabilize communities. ADDI helps first-time homebuyers with downpayments and closing costs. The program was created to assist low-income first-time homebuyers in purchasing single-family homes by providing funds for downpayment, closing costs, and rehabilitation carried out in conjunction with the assisted home purchase.

Reed has been a consistent supporter of these housing assistance programs.

Last month, he unveiled bipartisan legislation to provide over $1.8 billion for targeted homelessness assistance grant programs. The Community Partnership to End Homelessness Act of 2007 would increase current levels of funding for homelessness assistance grants by $350 million and allocate $250 in additional funding for homelessness prevention initiatives.

In March, Reed joined Senator Barbara Mikulski (D-MD) in introducing legislation to reauthorize the successful Housing Opportunities for People Everywhere (HOPE VI) grant program. HOPE VI provides federal funding to restore dilapidated public housing units and has helped revitalize distressed neighborhoods across the country.

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