Date: Sat, 3 Jul 1999 02:17:04 -0400 (EDT)
From: rosaphil <rugosa-AT-interport.net>
Subject: hud's low-income subsidies


maybe a way to make a squat a legal one?

+********** Snail me yer rosehips if you liked this post! ************
*Better Living Thru Better Living!* http://www.interport.net/~rugosa *
 
HUD News 

HUD No. 99-106 
Further Information: For Release 
In the Washington, DC area: 202/708-0685 Monday 
Or contact your local HUD office June 28, 1999 



--------------------------------------------------------------------------------

CUOMO ANNOUNCES NEW INITIATIVE TO PROTECT CONSUMERS FROM BUYING
HUD-INSURED HOMES WITH UNDETECTED DEFECTS 

WASHINGTON  Nearly 2,000 low-income families willing to help build or
rehabilitate homes with their own hands will get the opportunity to buy
the homes at reduced cost, Housing Secretary Andrew Cuomo said today in
announcing $20 million in grants for the program. 

The Self-Help Homeownership Opportunity Program (SHOP) enables families to
become homeowners with an investment of "sweat equity"  contributing their
own labor to help with such tasks as painting, landscaping, carpentry and
roofing. Department of Housing and Urban Development grants will provide
subsidies averaging $10,000 to lower the price of each home. 

"This program expands homeownership by rewarding hard work," Cuomo said.
"It empowers people in low-wage jobs to build better lives and brighter
futures for their families with the strength of their own labor." 

Families unable to afford a home and having incomes below 80 percent of
the area median income are eligible to receive HUD assistance under SHOP.
The grants will go to the following groups, which will distribute the
funds to homebuyers: 

Habitat for Humanity - $12,465,000. The national organization expects to
help an estimated 1,250 homeowners in urban, suburban and rural areas
around the country. 
Housing Assistance Council of Washington, DC  $6 million. The group will
distribute funds primarily to people in rural areas around the country,
helping an estimated 600 homeowners. 
Northwest Regional Facilitators of Spokane, WA  $785,000. The group will
primarily serve people in Washington State, Idaho, Oregon and Montana,
helping an estimated 60 homeowners. 
ACORN Housing Corporation of Chicago  $750,000. The group will distribute
funds to more than 70 homebuyers in: Chicago, Little Rock, AR; New York
City; and Phoenix.