WASHINGTON, D.C. – July 15, 2015 – (RealEstateRama) — Congressman Steve Cohen (TN-09) announced today that the U.S. Department of Housing and Urban Development (HUD) has selected the city as one of nine finalists for a HUD Choice Neighborhood Implementation Grant. The city will now compete for an individual federal grant worth up to $30 million, with winners expected to be announced in September. Today’s announcement follows years of effort by Congressman Cohen, working with Mayor Wharton and others in the city, to encourage the Obama administration to designate Memphis as a Choice Neighborhood.
“I am very pleased that Memphis has been selected to compete for up to $30 million in federal housing assistance funding from President Obama’s Choice Neighborhoods program, a program that could substantially transform our city,” said Congressman Cohen. “While we have not won this award yet, Memphis is ready to demonstrate why we should, and I will continue doing all I can to support the city’s efforts.”
To be selected as a finalist for this significant funding source, Memphis completed a comprehensive local planning process and developed a Transformation Plan to redevelop its target neighborhood. In the coming weeks, HUD evaluation teams will visit the targeted housing and neighborhoods to meet with the applicants and partners to get a clear understanding of their individual Transformation Plans. The city also received a $250,000 Choice Neighborhood Planning Grant in 2011.
President Obama’s Choice Neighborhoods program aims to transform neighborhoods of poverty into viable mixed-income neighborhoods with access to economic opportunities by 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. Today’s 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.