Posted on August 23, 2004
WASHINGTON - U.S. Senators Bill Frist (R-TN) and Lamar Alexander (R-TN) today announced that Knox County will receive over $6.2 million dollars in Capital Fund Program grants from the U.S. Department of Housing and Urban Development (HUD). "This funding for Knox County is a significant investment for East Tennessee families," said Frist. "Ensuring that everyone has a place to call home must be a priority, and HUD's support will further foster our ability to provide quality housing and economic growth in the region." "I appreciate HUD's investment to help strengthen Tennessee communities," Alexander said. "These funds will revitalize neighborhoods in Knox County, 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, including $295,166 to the Knox County Housing Authority and $5,982,733 to Knoxville's Community Development Corporation. 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. Tennessee will receive a total of $59,810,617 in HUD Capitol Fund Program grants.