housing and urban development

HUD Secretary Praises Museum Plaza Financing Plan

by Dalton Main on May 23, 2011

US Department of Housing and Urban Development Secretary Shaun Donovan says he supports the efforts to use a HUD-approved loan to finance construction of the Museum Plaza project.

The ambitious development has been stalled for years. Last summer, city officials and the project’s developers announced plans to use money from HUD to get construction moving.

Some critics have questioned whether it’s appropriate to use HUD money for the project, but Secretary Shaun Donovan praised the strategy.

“This is a project that has applied to use a very innovative technique with HUD funds,” Donovan says “basically what the city has done is to say we’re gonna take some of our grant and we’re going to use it essentially as a guarantee against bringing hundreds of millions of dollars of private capital for revitalization.”

HUD has not yet ruled on the loan. The developers of the project still need to secure $140.5 million in additional financing before they can submit the final paperwork for the loan.

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Government Officials Announce $22 Million Sheppard Square Revitalization Loan

by Dalton Main May 23, 2011

US Department of Housing and Urban Development Secretary Shaun Donovan was in Louisville today to announce a $22 million grant to revitalize the Sheppard Square public housing development and the surrounding community. The grant is part of the Hope VI program and will be used to raze the current development and replace it with mixed-income […]

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First Foreclosed Home Renovated By HUD Sold

by Sheila Ash March 2, 2011

The stimulus money came through the Department of Housing and Urban Development’s Neighborhood Stabilization program. Mayor Greg Fischer says the house is one of several abandoned or foreclosed homes in the city to receive a makeover using federal dollars.

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Grocery Store Coming To Park DuValle

by Gabe Bullard November 23, 2010

Local and federal officials Tuesday broke ground on a new grocery store for the Park DuValle housing development southwest of downtown. The project was funded largely through federal stimulus and housing funds.

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HUD Letter Renews Hope For Museum Plaza Loan

by Gabe Bullard November 4, 2010

The state applied for the loan through the Department of Housing and Urban Development, which uses private investments to help finance projects that will benefit multiple communities. Congressman John Yarmuth says he recently received a letter from HUD officials that said they were optimistic the loan could be arranged.

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