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City of Seattle
Gregory J. Nickels (former Mayor)
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NEWS ADVISORY
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| SUBJECT: HUD awards $2 million in grant funds to Seattle
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FOR IMMEDIATE RELEASE:
10/14/2004 3:33:00 PM |
FOR MORE INFORMATION CONTACT:
Karin Zaugg Black (206)733-9810
Office of the Mayor (206) 684-4000
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HUD awards $2 million in grant funds to Seattle
Federal grant and loan guarantee to stimulate revitalization, employment
SEATTLE - In an announcement today by the U.S. Department of Housing and Urban Development (HUD), the City of Seattle will receive $2 million of Brownfields Economic Development Initiative (BEDI) funds and a commitment of $10 million in Section 108 loan funds to assist in the redevelopment of contaminated sites throughout the city.
“These funds will support my economic development efforts for further strengthening important neighborhoods like Southeast Seattle, the Central Area and the International District,” stated Mayor Greg Nickels. “Seattle has proven success with these funds for projects in Pioneer Square, and we appreciate HUD’s continued recognition of our efforts.”
“I applaud this news of additional investment to turn underutilized properties into meaningful projects that benefit our neighborhoods both socially and economically,” said Seattle City Councilmember Richard McIver. “I am pleased to hear that Southeast Seattle and the Central Area are focus areas for these funds.”
Since 2002, the City of Seattle’s Office of Economic Development has administered a brownfields loan fund with previous BEDI and Section 108 loan funds, providing more than $12.9 million in assistance to five brownfields redevelopment projects in the Pioneer Square neighborhood. Projects assisted include: Cadillac Hotel, 211 First Avenue South, Buttnick Building, City Loan Building, and 210 Alaskan Way South.
“HUD is proud to be a partner with the City of Seattle to assist in the redevelopment of brownfields sites, returning these sites to productive uses and thereby increasing economic opportunities for the City's low and moderate income residents through job creation and retention,” said John Meyers, Regional Director of HUD Region X.
The City estimates the creation of 350 new jobs as a result of this new award, and will direct these funds to projects in the Central Area, International District and Southeast Seattle. The Office of Economic Development will administer the grant funds.
HUD is the nation’s housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as well as enforces the nation’s fair housing laws. For more information about HUD and its programs, visit www.hud.gov.
For more information, visit the Mayor’s website at www.seattle.gov/mayor.
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