WASHINGTON, DC -- On the heels of funding cuts to public housing authorities across Rhode Island and the nation, the Bush Administration announced it is significantly reducing federal aid for other important community development and housing programs in Providence. The U.S. Department of Housing and Urban Development (HUD) released a total of $9,316,850 to Providence to revitalize neighborhoods, increase homeownership, expand affordable housing, provide shelter for the homeless and increase economic development. This is a cut of 8% from last year, when the city received $10,170,128 million for these programs. This funding is vital to our community. It helps provide safe, decent, affordable housing for working families and seniors in Providence, said Reed. I am deeply disappointed by these cuts. The Bush Administration continues to slash funding for programs such as housing, health care, and homeland security. With the cost of real estate sky rocketing, the federal government should not be scaling back assistance for affordable housing. I will continue to work in the United States Senate to reverse these cuts and preserve funding for these vital programs. Providence Mayor David N. Cicilline stated, "The President's policies are already making it much harder for many Americans to afford the rising cost of living. Now they are cutting the very programs that help families meet this challenge. At a time when families need his support, President Bush has failed to show leadership on this critically important issue." The funds are provided through five different HUD programs: the Community Development Block Grant Program (CDBG), the Home Investment Partnership Program (HOME), Housing Opportunities for Persons with AIDS (HOPWA), the Emergency Shelter Grant Program (ESG) and the American Dream Downpayment Initiative (ADDI).Community Development Block Grant Program:$5,731,212Home Investment Partnership Program:$2,526,125Housing Opportunities for Persons with AIDS: $776,000 Emergency Shelter Grant Program:$246,452American Dream Downpayment Initiative:$37,061TOTAL: $9,316,850The CDBG program funds programs that are designed to assist low- and moderate-income residents, including rehabilitating public buildings, providing low-cost loans and increasing services to neighborhood and senior centers. The Administration cut funding for the program for Providence by 11 percent from last year, from $6,407,247.Reed has authored several amendments to restore funding for the CDBG program.The Home Investment Partnership Program (HOME) program, which allocates funding to assist in rehabilitating housing and the production of affordable rental and homeowner housing, was cut by over $100,000.By far the biggest cut is to the ADDI which will receive half as much funding as it did last year. This important program aims to increase the homeownership rate, especially among lower income and minority households, and to revitalize and stabilize communities. ADDI helps first-time homebuyers with downpayments and closing costs. The program was created to assist low-income first-time homebuyers in purchasing single-family homes by providing funds for downpayment, closing costs, and rehabilitation carried out in conjunction with the assisted home purchase.In 2003, Reed added a provision to the ADDI to help new homeowners perform much needed home repairs and abate problems cause by lead paint.Reed is the ranking member of the Senate Housing Subcommittee, which oversees federal housing issues.