THE WHITE HOUSE
Office of the Press Secretary
PRESIDENT CLINTON ANNOUNCES NEW HOUSING GRANTS WILL HELP NEARLY 30,000 SENIOR CITIZENS AND PEOPLE WITH DISABILITIES November 28, 1998
Today, President Clinton will outline steps he is taking to help our neediest citizens share in the blessings of the holiday season. He will announce nearly $130 million in new housing vouchers to help people with disabilities in over 200 communities obtain affordable housing. These funds, combined with nearly $700 million in grants released earlier this month to non-profit groups to create new subsidized apartments in 48 states, will help nearly 30,000 low-income senior citizens and people with disabilities have a home to call their own. The grants from the Department of Housing and Urban Development are part of President Clinton's ongoing strategy to create safe, affordable housing for those who need it most.
New Housing Funds for People with Disabilities
Today, the President will announce nearly $130 million in new housing vouchers to help over 17,000 people with disabilities obtain affordable rental housing. These funds will help subsidize rents in the private marketplace, providing new affordable housing choices for people with disabilities. These vouchers and certificates will be provided to people with disabilities in over 200 communities across America through local housing authorities and will ensure that low income people with disabilities won't have to pay more than 30 percent of their income in rent.
New Grants to Create Affordable Housing for Senior Citizens and People with Disabilities
Earlier this month, Housing and Urban Development Secretary Cuomo unveiled $696 million in grants to non-profit groups in 48 states, the District of Columbia, and Puerto Rico to create more than 8,100 subsidized apartments for over 12,000 very low-income senior citizens and people with disabilities. These funds will be used to create new affordable rental housing (through new construction or rehabilitation of existing housing) and to subsidize the rents of the housing tenants. The funds will provide over 6,500 apartments for about 9,900 senior citizens and 1,650 apartments for about 2,500 people with disabilities. Funds will be provided to over 200 non-profit organizations, including local chapters of the YMCA, Salvation Army, B'nai B'rith, Goodwill, and Catholic Charities.
Promoting Affordable Housing and Homeownership
These steps are just a few of President Clinton's efforts to promote affordable housing and homeownership. This year's balanced budget included the first new housing vouchers in five years, with 50,000 specifically targeted to help people moving from welfare to work find housing closer to jobs. The President has increased funding to help homeless people move from the streets to self-sufficiency and will continue to fight to expand the Low-Income Housing Tax Credit to help America's most hard-pressed families afford decent housing. Under President Clinton's leadership, over 7 million more Americans have become homeowners, raising the homeownership rate to 66.8 percent, the highest rate in our history.