R.I. to receive $8.6M for community development, neighborhood revitalization

PROVIDENCE – Rhode Island will receive nearly $8.6 million in federal aid this week to help revitalize local neighborhoods and support affordable housing and economic development programs throughout the state, U.S. Sen. Jack F. Reed said Tuesday.
Funds will be awarded through the Community Development Block Grant program, the Home Investment Partnership program and the Emergency Shelter Grant program.
This federal funding contributes to Rhode Island’s total allocation of more than $21 million for these programs for fiscal year 2015, according to information from Reed’s office.
The Rhode Island state program will receive $4,915,519 in CDBG funds; $3,002,167 in HOME funds; and $668,699 in ESG funds.
Eligible communities may apply to the state Division of Planning, which annually allocates the federal CDBG funds through a competitive process.
CDBG funds may be used to address a variety of needs from revitalizing distressed areas by improving streetscapes and sidewalks and supporting small businesses, to removing blight and assisting with infrastructure projects.
“CDBG helps communities make locally-driven economic development and other infrastructure improvements that are unique to their needs. By leveraging these federal funds with local resources, cities and towns can help businesses spur economic development and create jobs. HOME is the most flexible federal housing production program that allows Rhode Island to develop affordable housing opportunities for low-income families. ESG serves as a first response to help many homeless families in our communities and ensures they get access to emergency shelter services – a critical program in our efforts to prevent and end homelessness throughout the state,” Reed said in a statement.
All three programs are administered by the U.S. Department of Housing and Urban Development.

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