RISMEDIA, Sept. 11, 2008-U.S. Housing and Urban Development Secretary Steve Preston awarded nearly $6 million to 10 Hispanic-Serving Institutions (HSI) to help revitalize neighborhoods, promote affordable housing and stimulate economic development in their communities.
The funding is provided through HUD’s Hispanic-Serving Institutions Assisting Communities (HSIAC) Program. For an institution to qualify as a Hispanic-Serving Institution, at least 25% of the undergraduate student enrollment must be Hispanic.
“Hispanic-Serving Institutions not only play a vital role as places of higher learning, they can be powerful instruments of community development,” said Preston. “I am proud of the partnership HUD has with these colleges and universities so that, together, we can help revitalize neighborhoods, offer needed public services, and stimulate community development around their campuses.”
The following colleges and universities were awarded funding:
|California||Southwestern College||Chula Vista||$600,000|
|Imperial Valley College||Imperial||$600,000|
|New Mexico||The Regents of the University of New Mexico||Taos||$600,000|
|New York||Research Foundation of CUNY on behalf of Lehman College||Bronx||$600,000|
|Puerto Rico||University of Puerto Rico at Carolina||Carolina||$559,895|
|Texas||Texas A&M University||Kingsville||$600,000|
|The University of Texas- Pam American||Edinburg||$599,900|
|The University of Texas at Brownville and TSC||Brownsville||$598,401|
|St. Mary’s University||San Antonio||$596,794|
|Washington||Yakima Valley Community College||Yakima||$600,000|
HUD’s Hispanic-Serving Institutions Assisting Communities (HSIAC) Program is designed to help these institutions address pressing community development needs in their communities. These needs include neighborhood revitalization, housing, and economic development, and other programs that benefit low- and moderate-income families.
The HSIAC grantees awarded funding today will carry out a broad range of community and economic development activities that will help to stabilize their communities and cultivate redevelopment of residential and commercial properties. In addition, HSIAC grants can be used to acquire real estate; to demolish abandoned housing; to help provide homeownership assistance; to support job training and placement; and to rehabilitate residential, commercial or industrial buildings to correct code violations.
Since 1999, HUD has awarded approximately $64 million to stimulate economic and community development in the neighborhoods surrounding the HSIs. The HSIAC Program is one of several initiatives administered by HUD’s Office of University Partnerships (OUP). Established in 1994, OUP is a catalyst for partnering colleges and universities with their communities in a shared search for answers to pressing urban problems.
For more information, visit www.oup.org.