Washington, D.C.—Today, Congressman Joe Donnelly notified Kokomo Mayor Greg Goodnight that the City of Kokomo will receive federal funds as a result of The American Recovery and Reinvestment Act, which was signed into law this month.
“I was pleased to find out that Kokomo will be receiving federal funds as a result of the recovery package,” Donnelly said. “The goal of this legislation is to get our economy back on the right track, and there’s no better way to do this than by helping our local communities that need it most.”
The American Recovery and Reinvestment Act includes $13.61 billion for projects and programs administered by the U.S. Department of Housing and Urban Development. Nearly 75 percent of the funding was allocated to state and local recipients, including well over $1 million for Kokomo.
The Kokomo Housing Authority will receive $1,013,695 in the form of a Capital Fund Formula Allocation, which can be used to generate economic activity through the rehabilitation and development of public housing.
The City of Kokomo will also receive $265,707 in the form of a Community Development Block Grant (CDBG). Local governments can use CDBG funds to develop affordable housing, economic opportunities and improve living environments for their citizens.
“These funds are a step in the right direction to help get federal dollars injected into our community,” Kokomo Mayor Greg Goodnight said. “We’re hoping this money will begin to stabilize our local economy.”
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