For Immediate Release
July 7, 2002

Grant Program For Lower Manhattan Residents Approved

Friday, June 07, 2002 - Governor George E. Pataki and Housing and Urban Development Secretary Mel Martinez today announced the approval of nearly $306 million in grants to retain and attract residents in Lower Manhattan. The grants are being funded as part of a $2 billion grant from HUD's Community Development Block Grant Program. LMDC expects to begin accepting applications by late summer.

Through the LMDC Housing Assistance Program, residents who lived in certain areas of Lower Manhattan on September 11th and remain will be eligible for a one-time $1,000 grant. The program also provides grants of as much as $12,000 for new and existing residents who make a two-year commitment to Lower Manhattan. To encourage families to make a home in Lower Manhattan, households with at least one child are also eligible for a family bonus of as much as $1,500.