01/30/2008 GAAS:49:08 FOR IMMEDIATE RELEASE Print Version | En Español | Email / Share
Gov. Schwarzenegger Announces More than $72 Million in Awards to Increase California Homeownership
Helping to offset California's housing slump, Governor Arnold Schwarzenegger today announced awards totaling more than $72 million in federal HOME Investment Partnerships Program funds. This money will help improve the current mortgage situation in California by providing assistance to first-time homebuyers, reducing the number of bank owned homes and increasing the number of rental properties.
"This funding will help make the dream of homeownership a reality for thousands of Californians. These awards will also help improve our housing market and stimulate our overall economy," said Governor Schwarzenegger.
The awards were distributed for housing opportunities in 53 California cities and counties to provide affordable housing for 1,275 California households. HOME assists cities, counties and nonprofit community housing development organizations to create and retain affordable housing. The program provides funds to eligible cities and counties that do not receive HOME funds directly from the federal Department of Housing and Urban Development (HUD).
"The awards announced today will provide California's essential workforce and their families the safe and affordable housing they urgently need to live and work in their communities. My department is committed to expediting these awards to make housing available as soon as possible," said California Department of Housing and Community Development (HCD) Director Lynn Jacobs.
HCD provides leadership, policies and programs to preserve and expand safe and affordable housing opportunities and promote strong communities for all Californians. The Department also supports increasing the supply of housing, especially affordable housing and works to improve the state's housing conditions and the health and safety of its residents. As the lead housing department, HCD is part of the state Business, Transportation and Housing Agency.
- Central Valley Region - Seventeen cities and counties in the Central Valley region will receive more than $17.2 million to provide affordable housing for 258 families and individuals.
- Greater Sacramento/Stockton Region - Six cities and counties in the greater Sacramento/Stockton region will receive approximately $8 million to provide affordable housing for 122 families and individuals.
- San Francisco/Bay Area Region - Four cities and counties in the San Francisco/Bay Area region will receive approximately $7.9 million to provide affordable housing for 80 families and individuals.
- Los Angeles Region - Four cities in the Los Angeles region will receive more than $5.8 million to provide affordable housing for 171 families and individuals.
- Inland Empire - The city of Calimesa in the Inland Empire will receive $508,400 to provide affordable housing for 10 families and individuals.
- Other Regions - 18 cities and counties in other regions of California will receive more than $33 million to provide affordable housing for 634 families and individuals.
For a full listing of total awards by county, please visit:
http://www.hcd.ca.gov/news/release/01302008AwardsRegion.pdf
For a full listing of total awards by region, please visit:
