Passaic gets $2.1M in housing funds

31 07 2007

PASSAIC, NJ – The federal Department of Housing and Urban Development announced Tuesday that the city will receive more than $2.1 million in funding.The award includes $1.2 million from HUD’s Community Development Block Grant (CDBG) funds and another $929,929 from Home Investment Partnerships (HOME) funding.This funding helps breathe new life into neighborhoods,” said HUD Secretary Alphonso Jackson in a press release . “By helping communities to improve their infrastructure or assisting families to purchase their first home, HUD is helping to improve neighborhoods from the ground up.”The CDBG and HOME programs financially assist governments and community groups in urban areas with significant low-to moderate-income populations.HUD estimates that federally-funded CDBG grants have awarded more than $100 billion to state and local governments for community development priorities.Since 1992, HUD says more than 600 communities have completed more than $780,000 in affordable housing units, including over $329,000 for new homebuyers purchasing their first home. [Meredith Mandell, Herald News]

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