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Cities Awarded Job Creation Grants.

Vice President Al Gore last week announced the award of $213 million in federal funds to help 23 cities in 16 states and the District of Columbia spur economic development, create and preserve 16,000 jobs, and stimulate an estimated $2.3 billion in business investment.

The funds, administered by the U.S. Department of Housing and Urban Development (HUD), involve $183.5 million in Section 108 Economic Development Loan Guarantees to fund job creation, housing rehabilitation, and the construction of public facilities and large-scale development programs, and $29.5 million under HUD's Economic Development Initiative program to finance jobcreating economic development projects for low- and moderate-income people.

Most of the awarded projects had been planned and applied for by cities previously. The financial awards range in size from $29.9 million (Philadelphia) to $497,000 (Troy, N.Y.), with the median grant in the $6.4 million range.

Details: Vice President's Office, 202-456-7035.
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Publication:Nation's Cities Weekly
Date:Nov 30, 1998
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