"Together, we will not only breathe new life into thesedistressed areas, we will restore economic vitality in surroundingneighborhoods and create thousands of jobs for those who livethere," says HUD secretary Alphonso Jackson. San Jose, CA andPortland, OR have been awarded the largest grant and loan package,both receiving $2 million in BEDI funds, as well as $26 million inloan guarantee funds. In addition to assisting in the conversion ofunused or underutilized space into productive developments, thegrants will also help create a total of about 7,000 jobs,indirectly.
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