After being selected as one of nine finalists in July, Memphis was awarded a Choice Neighborhood Grant which will help revitalize Memphis
MEMPHIS, TN – September 28, 2015 – (RealEstateRama) — Congressman Steve Cohen (TN-09) was joined by Mayor A C Wharton, Housing and Urban Development Director Ed Jennings, and Rosalyn Willis from McCormack Baron Salazar in announcing that Memphis will receive $30 million in federal funding to redevelop Foote Homes and revitalize Memphis after winning President Obama’s Choice Neighborhood competition. Earlier this year, the City of Memphis was selected by the U.S. Department of Housing and Urban Development (HUD) as one of nine finalists for this grant after a multi-year effort by Congressman Cohen, Mayor Wharton and others in the city, to encourage the Obama administration to designate Memphis as a Choice Neighborhood.
“I am extremely pleased to announce this $30 million federal grant from President Obama’s Choice Neighborhoods program that will help revitalize our city and position us for success,” said Congressman Cohen. “Our selection as a Choice Neighborhood is the result of several years of working closely with Mayor Wharton to present our city’s strong application to HUD Secretary Julian Castro and the outstanding work of McCormack Baron Salazar. This infusion of government funds will stimulate additional private investment, a synergy which will prove even more beneficial for Memphis.”
To win this Choice Neighborhood grant, Memphis completed a comprehensive local planning process and developed a Transformation Plan to redevelop its target neighborhood. After being selected as a finalist in July, HUD evaluation teams visited the city’s targeted housing and neighborhoods to meet with the applicants and partners to get a clear understanding of their individual Transformation Plans. The city received a $250,000 Choice Neighborhood Planning Grant in 2011.
“We are excited and grateful for the strong commitment from and collaboration with Congressman Cohen and Secretary Castro’s office that led to our successful application for this nearly $30 million award,” said Mayor Wharton. “This project is perfectly aligned with my strategic priority to create safe and vibrant neighborhoods all over our City. When the envisioned South City transformation is complete, it will represent an estimated $485 million investment of public and private funds to create a total neighborhood change.”
President Obama’s Choice Neighborhoods program aims to transform neighborhoods of poverty into viable mixed-income neighborhoods with access to economic opportunities through revitalization of severely distressed public and assisted housing by investing and leveraging in well-functioning services, effective schools and education programs, public assets, public transportation and improved access to jobs. The nine finalists were ranked on how well their vision addressed Choice Neighborhoods’ three core goals: transforming distressed housing, supporting positive family outcomes and employment, and improving neighborhoods on a variety of levels.