$16.8 million in Rural Housing and Economic Development grants awarded nationwide
FORT WORTH – Housing and Urban Development Secretary Alphonso Jackson today awarded $643,800 to rural housing programs in Ferriday and Tallulah, Louisiana, to stimulate economic development, create jobs and produce more affordable housing. The funding is part of $16.8 million in grants provided nationwide through HUD’s Rural Housing and Economic Development Program. Information about the two Louisiana grantees follows.
In addition to the HUD grants announced today, rural communities are expected to leverage more than $260,000 from other public and private sources to promote economic development and employment.
“These grants will go a long way toward producing more affordable housing in rural communities across our country,” said Jackson. “HUD funding, and the private investment these grants will generate, will offer more than just an affordable home to working families in rural areas. These grants will trigger economic development and breathe new life into rural neighborhoods that are desperate to grow.”
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 microenterprises 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.
Louisiana Tech College Foundation Tallulah in Tallulah will use its $300,000 RHED grant to construct and rehabilitate 6-8 housing units for low income families and to create 15-20 new jobs in Madison and East Carroll parishes. In addition, 47 new jobs will be created of which 80 percent will be filled by eligible low and very low-income residents in the Northeast Louisiana Delta target area. Partners for this project are St. Peter United Methodist Church, Town of Lake Providence, Mt. Zion M.B. Church, Madison Parish Police Jury, Samuel Thomas, Youthbuild Delta, T.J. Williams Realty, East Carroll Parish Police Jury, Louisiana Technical College, East Carroll Parish School Board, Louisiana Tech School of Architecture, and SDA-83 Workforce Investment Board. The proposed leveraging for this project is $384,330.
Contact: Mr. Mason Scott
132 Old Highway 65 South Tallulah, LA 71282-7400
Telephone: (318) 574-4820
Macon Ridge Community Development Corporation in Ferriday will use its $243,800 RHED grant to conduct 16 homebuyer education workshops and eight financial literacy classes, to purchase and develop 20 lots in Ferriday, Louisiana, and to construct 20 affordable single-family homes. Partners for this project are Delta Bank and Mid-South Delta LISC. The proposed leveraging for this project is $514,000.
Contact Person: Mr. Lloyd Spillers
Grantee Address: 1600 Third Street Ferriday, LA. 71334
Telephone Number: (318) 757-2361
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.