Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, March 4, 1993 TAG: 9303040254
SECTION: VIRGINIA PAGE: C4 EDITION: METRO
SOURCE: JOEL TURNER STAFF WRITER
DATELINE: LENGTH: Medium
ROANOKE AWAITS $1.3 MILLION
Roanoke would receive an additional $1.3 million in federal community-development funds this fiscal year if Congress approves President Clinton's short-term economic-stimulus package.Mike Zerega, a spokesman for the U.S. Department of Housing and Urban Development's regional office in Philadelphia, said Wednesday that community-development funds for cities would be increased by 60 percent.
Roanoke received $2.1 million this fiscal year as its regular allocation for projects to help moderate- and low-income residents.
Federal guidelines require the money to be used for housing, neighborhood revitalization and economic development.
The city has not been notified of the possible increase in funds, but officials said they would have no trouble spending it.
"It would come in handy," said Marie Pontius, grants monitor for the city.
The city has received funding applications for 45 projects totaling $2.4 million for the next fiscal year.
In addition, the city must pay approximately $1 million in debt payments for federal loans for the Coca-Cola Bottling Co. plant and the Hotel Roanoke renovation project, Pontius said.
The community-development funds would be separate from funding increases for transportation and other projects in Clinton's stimulus plan.
The city has compiled a list of a dozen projects that would cost $12.8 million and create 426 jobs if federal funds become available.
The projects include $6 million for replacing bridges and $1 for neighborhood storm drains.
Federal officials have suggested that cities prepare lists of projects that could begin within 90 days after Clinton's stimulus package is approved.
Congressional leaders say they hope to complete work on the plan quickly, perhaps by the end of the month.