February 21, 2008
16 projects will result in estimated 5,850 affordable housing units
(BILOXI, Mississippi) – After completing a competitive review process, 16 projects have been selected for a total of $150 million in long-term workforce housing funds, Governor Haley Barbour announced today. Together, these projects are expected to result in the construction of about 5,850 affordable housing units along the Mississippi Gulf Coast.
The Mississippi Development Authority, which manages the program, issued a request for proposals in September 2007. Seventy-one proposals were originally received and the ones deemed best by an independent review panel are being announced today. The next step will be submitting an action plan to the U.S. Department of Housing and Urban Development for approval and final funding.
In addition to financing the construction of new affordable housing units, the long-term workforce housing funds may also be used for home repair and rehabilitation; rehabilitation of foreclosed properties; revolving loan programs for developers; assistance for mixed use developments; and technical assistance.
Long-Term Workforce Housing funding was allocated to the following recipients:
• City of Gulfport – construction of 235 homes; $9 million; 235 units
The work-force housing program is part of the $5.4 billion of federal Community Development Block Grants awarded to Mississippi after Hurricane Katrina, more than $3.9 billion of which has been designated for housing needs.