HUD ANNOUNCES ADDITIONAL $50 MILLION TO HELP TENNESSEE COMMUNITIES RECOVER FROM 2010 DISASTER

HUD ANNOUNCES ADDITIONAL $50 MILLION TO HELP TENNESSEE COMMUNITIES RECOVER FROM 2010 DISASTER

Recovery grants allocated to Memphis, Nashville-Davidson County, Shelby County and State of TN

WASHINGTON, DC – February 14, 2011 – (RealEstateRama) — U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced an additional $50 million in disaster funding to help Tennessee communities recover from last spring’s devastating storms and flooding.  Provided through HUD’s Community Development Block Grant (CDBG) Program, these grants will supplement $24 million awarded by HUD last September to support long-term disaster recovery efforts throughout the Volunteer State.

“When we studied the impact of these storms, the information on damages demonstrated pretty clearly that Tennessee was disproportionately impacted and still has a lot of work ahead of it to get back on its feet,” said Donovan. “These funds, along with the last year’s investment, will go a long way toward helping these communities rebuild.”

Last summer, Congress appropriated a total of $100 million and directed HUD to allocate the funds to various States and local communities to address unmet disaster recovery needs relating to flooding that occurred in the spring of 2010.  HUD calculated unmet needs for housing, business, and infrastructure recovery based on data provided by the Federal Emergency Management Agency and the Small Business Administration.

As a result of these calculations, HUD’s allocations are:

Funding announced today

Funding announced in Sept.

Memphis

$4,232,594

$2,031,645

Nashville-Davidson County

$22,357,982

$10,731,831

Shelby County

$2,526,642

$1,212,788

State of Tennessee

$20,882,782

$10,023,736

TOTAL

$50,000,000

$24,000,000

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HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and  transform the way HUD does business. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

Contact:
Brian Sullivan
(202) 708-0685

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HUD

U.S. Department of Housing and Urban Development (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.

Contact:

Brian Sullivan
(202) 708-0685

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