Tuesday, May 10 2011 7:48AM
HUD's HOME program reached a milestone after it built its one-millionth home.
Twenty years after the Department of Housing and Urban Development's HOME Investment Partnerships Program began, it has continued to help low-income families move into affordable housing.
HUD announced that it has built one million homes for needy families since its inception. The millionth home was given to a family of four in Owensboro, Kentucky. However, the program has helped numerous families nationwide.
"We've come a long way since the HOME Program got its start 20 years ago," HUD Secretary Shaun Donovan said. "Today, state and local governments rely on the HOME program to produce affordable homes for very low and extremely low-income families struggling to find a place to call home."
He added that reaching the one-million-home mark is proof that the program is an effective one.
The HOME program is the most expansive federal block grant to state and local governments designed to build affordable housing for low-income households, according to HUD. Nearly $2 billion is allocated for home construction each year.