Thanks to a nearly $2 million grant from the U.S. Department of Housing and Urban Development, affordable housing and economic development in Helena-West Helena will receive a real shot in the arm.

 



Thanks to a nearly $2 million grant from the U.S. Department of Housing and Urban Development, affordable housing and economic development in Helena-West Helena will receive a real shot in the arm.



HUD announced Tuesday that it had awarded a $1,998, 621 grant to Southern Capital Partners of Arkadelphia. The grant is part of a national effort to address distressed housing conditions and concentrated poverty according to a HUD press release. HUD Secretary Shaun Donovan said HUD’s new Rural Innovation Fund grants encourage an ‘entrepreneurial approach’ to affordable housing and economic development in rural areas.



A total of $28 million was awarded 46 rural and tribal communities across the country.



“Rural America is vast and diverse and different communities face different challenges and opportunities,” stated Donovan in the press release. “Because there is no ‘one size-fits-all’ approach to strengthening rural communities, this funding provides flexible resources to address either housing or economic development needs, or both. This is especially important for communities that may have more limited access to resources because of their distant locations. These are catalytic projects that will have an impact on their communities for generations to come.”



Southern Bancorp will use its grant funds for an economic development and housing program that will support existing businesses and entrepreneurs and give support services and incentives to homeowners.