HUD Program Honors Reducing Regulatory Barriers to Housing - 12/13/2004 - Mortgage Loan Refinance Debt Equity

HUD Announces Program to Honor Communities for Reducing Regulatory Barriers to Housing

The Affordable Communities Awards Program builds on President's Bush's proposed Opportunity Zone Initiative to create more jobs and expand homeownership opportunities for lower income families living in transitioning communities.

Interested individuals or groups may nominate either a state or local government that has eliminated regulatory barriers to housing affordability. State and local governments may also nominate themselves or other local units of government for awards.

Submissions will be evaluated and selected by a diverse group of senior-level HUD staff who comprise the agency's Affordable Communities Initiative Team.

Applications for the 2005 Affordable Communities Awards must be postmarked no later than March 15 and are available online.

President Bush's proposed Opportunity Zone Initiative recognizes that a strong partnership between the federal government and local communities is needed to overcome barriers that prevent working families from owning a home of their own. In addition, to help more Americans achieve the American dream of owning their own home, President Bush has set a new public-private goal of increasing the supply of affordable housing by seven million homes over the next 10 years.