PATERSON – U.S. Rep. Bill Pascrell Jr. (D-NJ-8) announced today that the City of Paterson have been awarded $5,190,278 in federal funding from the Department of Housing and Urban Development (HUD) to help struggling homeowners and renters stay in their homes while also helping local governments promote development and economic activity.
“During these difficult economic times, this federal investment in Paterson not only will help the most hard pressed individuals and families keep a roof over their heads, but it will also support the creation of jobs as these projects are funded,” stated Pascrell a member of the House Committee on Ways and Means. "This is a critical life line for scores of families that are living in inadequate conditions and fighting to pay their rent and utility bills. Keeping families in their homes is a key to our economic recovery and essential to preserving the core of our communities and neighborhoods.”
Funding Distribution Based on Federal Program:
• $2,416,065 in Community Development Block Grants (CDBG) to promote affordable housing, services to the most vulnerable in our communities, and to create jobs through the expansion and retention of businesses.
• $232,425 in Emergency Shelter Grants (ESG) to improve the quality and number of emergency homeless shelters.
• $1,161,788 in HOME funding to create affordable housing for low-income households. Specific activities authorized include rehabilitation financing assistance to eligible homeowners and new homebuyers, building or rehabilitating housing for rent or ownership, or for other reasonable and necessary expenses related to the development of non-luxury housing, including site acquisition or improvement.
• $1,380,000 in Housing Opportunities for Persons with AIDS (HOPWA) funding to housing assistance and related supportive services for persons living with HIV/AIDS.