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Homeownership Zone Funding

In federal fiscal year (FY) 1996, HUD set aside $30 million in Economic Development Initiative (EDI) funds in support of $54 million in Section 108 loan guarantees. Homeownership Zone EDI grants were awarded to Baltimore, MD; Buffalo, NY; Cleveland, OH; Louisville, KY; Philadelphia, PA; and Sacramento, CA.

In FY 1997, HUD set aside $20 million in recaptured Nehemiah Grant funds. Homeownership Zone grants were awarded to Flint, MI; Indianapolis, IN; Long Beach CA; New York, NY; San Juan, PR; and Trenton, NJ. Long Beach has since terminated its participation. Technical assistance through HUD's College of Experts program was offered to unsuccessful FY 1997 HOZ applicants.

No new HOZ funds have been made available since FY 1997.


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