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Washington, D.C. - Congressman Dale E. Kildee (D-MI) announced today that Bay City would receive $2,028,796 in federal assistance to stimulate the local economy, improve public services and promote affordable housing. The Office of Community Planning and Development, a division of the U.S. Department of Housing and Urban Development, awarded these grants to Bay City to improve and rehabilitate areas in the community.
“This funding will improve the standard of living for low-income families and the quality of public services available to all residents living in Bay City,” said Kildee. “By investing in families and neighborhoods, we will ultimately improve the conditions of our local community and economy.”
Bay City will receive two separate grants, including:
· $1,742,000 Community Development Block Grant (CDBG). The funds enable local government to target its own economic development priorities. While rehabilitation of affordable housing has traditionally been the largest single use of the grants, increasingly they have become an important catalyst for economic development activities that expand job and business opportunities for lower income families and neighborhoods.
· $286,796 Home Investment Partnerships Program Grant (HOME). A federal block grant program for state and local governments designed exclusively to create affordable housing for low-income families through direct rental assistance or assistance with the purchase of their first home. |
