Delaware Housing Agencies To Receive Over $10 Million In Federal Funding To Increase Access To Affordable Housing

FOR RELEASE: July 23, 2004 CONTACT: Chip Unruh (Biden) 302-573-6059 Meredith Rosenthal (Carper) 302-573-6457 Elizabeth Wenk (Castle) 202-225-4165 Wilmington, DE — The Delaware Congressional Delegation today announced Delaware housing agencies will receive a combined total of $10,244,649 in federal grants to provide economic, affordable housing opportunities and a suitable living environment, and to expand economic opportunities for lower income families. Delaware has received a total of 9 grants ranging from $92,913 to $3,017,068. “Delaware’s real estate market is booming, but we can’t let lower income families get priced out of quality, affordable housing in safe, desirable neighborhoods,” said Biden. “These funds will help Delaware address important housing, community and economic development needs.” “All Americans should have equal access to safe and affordable housing,” said Senator Tom Carper. “This is great news for the Delaware agencies that were awarded grants, and it’s even better news for those Delawareans who will benefit from their services. The ability to own a home not only helps people gain financial stability but it also gives people a sense of pride that benefits everyone—including the community.” “This funding is a successful step in helping us to tackle many of the pressing needs in our communities, from developing a thriving neighborhoods to providing our families with the tools they need to succeed,” said Congressman Castle, a senior member of the House Financial Services Committee which has jurisdiction over housing issues. Specifically, the state of Delaware will receive $5,763,574 to promote homeownership opportunities, provide necessary resources for down payment and closing cost assistance to low-income and minority households, develop viable urban communities, provide decent housing and a suitable living environment, and to expand economic opportunities, principally for low- and moderate- income persons. • The state of Delaware will receive $193,098 for the American Dream Down payment Initiative (ADDI). • The Community Development Block Grant (CDBG) program will receive $2,296,495. • The Emergency shelter Grant (ESG) program will receive $92,913. • $3,017,068 will be given to the HOME program. • And $164,000 will be offered to the Housing Opportunities for Persons with AIDS (HOPWA) program. Additionally, New Castle County will receive $4,481,075 for similar programs to increase homeownership, support community development and increase access to affordable housing free from discrimination. • $180,400 American Dream Downpayment Initiative (ADDI). • The Community Development Block Grant (CDBG) program will receive $2,888,000. • $108,056 is offered to the Emergency Shelter Grant (ESG) program. • And $1,304,619 will be offered to the local HOME program. The American Dream Downpayment Initiative is a new program passed by Congress in 2003, which assists families achieve homeownership by helping with the barriers of downpayment and closing cost requirements. Castle reiterated, “housing prices have risen sharply, which is great for those homeowners in Delaware, but it has raised the bar even higher for those in need of affordable housing. One of the major barriers in the area of affordability of homeownership is the downpayment, so I am pleased Delaware will receive money to help families become homeowners.” The delegation works hard to improve housing programs for Delawareans and all Americans and they remain committed to working to improve housing availability and affordability for our middle- and low-income families. The $10 million in grants Delaware received today will assist many individuals and families.