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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:

State  Recipient  City  Amount 
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 
    TOTAL  $5,955,080 

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.

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