Menendez, Lautenberg Announce $7.3 Million For Community Development, Affordable Housing Opportunities for Low and Moderate Income Families

WASHINGTON, DC – June 19, 2012 – (RealEstateRama) — U.S. Senators Robert Menendez (D-NJ) and Frank Lautenberg (D-NJ) today announced that Bloomfield, Perth Amboy, and Essex County will receive a total of $7.3 million in federal funding for community and economic development and to provide emergency shelter and affordable housing opportunities for low and moderate income families. The grants, awarded by U.S. Department of Housing and Urban Development (HUD), are part of three HUD initiatives: The Community Development Block Grant (CDBG) Program, the Emergency Shelter Grants (ESG) program and the HOME Investment Partnership.

“This critical funding will help ensure the most vulnerable New Jerseyans have a roof over their head and will give working families greater access to affordable housing,” said Menendez.  “These investments will also help revitalize our neighborhoods, creating jobs and economic opportunities.”

The CDBG program provides annual grants for economic and community revitalization and to develop viable housing options in low to middle income areas. The HOME program provides grants to states and localities to fund a wide range of activities to expand affordable housing for low income individuals and families according to local needs.  ESG offers grants to expand and improve the quality of homeless shelters.