Panetta Announces Federal Grant for Affordable Housing in Santa Cruz County
WASHINGTON – Today, Congressman Jimmy Panetta (D-Calif.) announced that Habitat for Humanity Monterey Bay, a regional non-profit housing corporation in the City of Santa Cruz, will receive a federal grant totaling $315,000 from the Department of Housing and Urban Development. This Home Investment Partnerships Program (HOME) award will be used for first-time homebuyer mortgage assistance and new construction in Los Esteros Court.
“Providing affordable housing is one of the greatest challenges we face on the central coast of California,” said Congressman Panetta. “These funds will help construct stable, safe housing in our community, and provide opportunity for people to build a better life for themselves and their families.”
HOME provides formula grants to States and localities that communities use - often in partnership with local nonprofit groups - to fund a wide range of activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership or providing direct rental assistance to low-income people. HOME is the largest Federal block grant to state and local governments designed exclusively to create affordable housing for low-income households.