June 16, 2011 | Ben Frame | Comments 0

Atlanta Real Estate Receives Boost from U.S. Housing and Urban Development

According to a report in the Atlanta Journal Constitution, the U.S. Department of Housing and Urban Development announced on Tuesday that it will provide more than $52 million in grants to various parts of Georgia. The money is intended to increase the supply of affordable housing and support community development.
Specifically, Secretary Shaun Donovan said that Atlanta, Rome, Savannah and Augusta, as well as Cherokee, DeKalb, Fulton and Gwinnett counties would be receiving grant money. The money will also help homeless individuals and families and those living with HIV or AIDs to obtain permanent housing.
According to HUD Regional Administrator Ed Jennings Jr., maintaining these programs is essential to supporting the housing market, even under the challenges posed by the nation’s debt situation. Grant money like this helps to produce affordable housing, promote community development, assist homeless people and support long-term disaster recovery.
The money for the $52 million in grants comes from the following sources: $27.5 million for Community Development Block Grant funds, $12.7 million in HOME Investment Partnerships funding, $10.5 million for Housing Opportunities for Persons with AIDS and $1.2 million in Emergency Shelter Grants.
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