Welcome!




Expand Your Education with These Courses from
Negotiating Skills: Skills for Sales Success: Part Six.
Territory Management: Skills for Sales Success: Part Eight.
A Consumer Advocate Approach to Real Estate & Mortgages: Courses 1 & 2.
Bundle 1: CIPS Core Courses (Non-US Version).
Bundle 2: CIPS Elective Courses (US Version).

HUD Allocates 50 Million Dollars in Disaster Recovery Grants to Three States Severely Impacted by Storms and Floods

Have a comment on this article? Share on Facebook!

RISMEDIA, September 24, 2010—U.S. Housing and Urban Development (HUD) secretary Shaun Donovan allocated $50 million in disaster funding slated for Kentucky, Rhode Island, and Tennessee. The supplemental disaster funding, provided through HUD’s Community Development Block Grant (CDBG) Program, will help support the long-term disaster recovery and critical infrastructure needs in each state and local government receiving funds.

“Families, businesses and communities in these states and communities are struggling to rebuild following this year’s natural disasters,” said Donovan. “Today, we are providing much needed assistance to help them get back on their feet.”

The funding is the result of the Supplemental Appropriations Act, 2010 (Public Law 111-212) which provided $100 million through HUD’s Community Development Block Grant (CDBG) program for necessary expenses related to disaster relief, long-term recovery, and restoration of infrastructure in areas covered by a declaration of major disaster as a result of recent natural disasters. The Act also authorized HUD to make allocations directly to local governments if warranted based on damage and unmet needs. 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 the calculations, the initial allocations are:
State of Kentucky – $13,000,000
State of Rhode Island – $8,935,237
Cranston, Rhode Island – $1,277,067
Warwick, Rhode Island – $2,787,697
State of Tennessee – $10,023,735
Memphis, Tennessee – $2,031,645
Nashville-Davidson County, Tenn. – $10,731,831
Shelby County, Tenn. – $1,212,788

Today’s announcement is meant to comply with Congress’ directive that one-half of the $100 million appropriated in July for disaster recovery be obligated within 90 days. HUD will provide grantees with guidance on preparing plans and applying for their allocations. Further, HUD will continue to review long-term recovery needs to determine how to allocate the remaining $50 million in aid. The agency’s review will include unmet housing, infrastructure and economic revitalization needs.

For more information, visit www.hud.gov.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>