U.S. Housing and Urban Development Secretary Shaun Donovan today announced Cook County will receive more than $11 million to support community development.
“This funding provides the building blocks needed to improve communities,” says Donovan. “Now, more than ever, these grants promote neighborhood development, produce affordable housing, and help extremely low-income persons find their place in their communities.”
Cook County’s funding announced today is $11,316,030 in Community Development Block Grant (CDBG) funds.
Since 1974, HUD’s Community Development Block Grant (CDBG) Program has provided approximately $132 billion to state and local governments to target their own community development priorities. The rehabilitation of affordable housing and the improvement of public facilities have traditionally been the largest uses of CDBG, although the program is also an important catalyst for job growth and business opportunities. Annual CDBG funds are distributed to communities according to a statutory formula based on a community’s population, poverty, age of its housing stock, and extent of overcrowded housing.