Posted on September 2, 2004
WASHINGTON - U.S. Senators Bill Frist (R-TN) and Lamar Alexander (R-TN) today announced that Shelbyville has been awarded $702,011 through the Capital Fund Program from the U.S. Department of Housing and Urban Development (HUD). "HUD's investment in Shelbyville will encourage a sense of community, foster job growth and ensure every family has a place to call home," said Frist. "This funding is a significant step for economic development throughout Shelbyville and Middle Tennessee." "I appreciate HUD's investment to help strengthen Tennessee communities," Alexander said. "These funds will revitalize neighborhoods in Shelbyville and across Middle Tennessee, giving families better places to live. Senator Frist and I will continue to work with HUD Secretary Alphonso Jackson to bring needed improvements to Tennessee." The Capital Fund is awarded on an annual basis to 3,160 public housing authorities (PHAs) nationwide. For fiscal year 2004, Tennessee has received over $59.8 million to 82 PHAs. Thirty-two cities in Middle Tennessee, including Shelbyville, received a combined total of $12,215,512 to address public housing needs. The grants were announced by HUD in late August. The Capital Fund may be used for a variety of activities including modernization, development, financing and management improvements. Grant amounts may also include replacement housing factor grants (RHF) for those PHAs that demolished or disposed of public housing units in prior year(s). An RHF grant must be used to build new developments or acquire and rehabilitate a development.