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Wednesday, January 30, 2002

President Bush and HUD: Unlocking the American Dream to More People than Ever Before

Through HUD's efforts to aggressively implement President Bush's housing agenda over the past year, Secretary Martinez said that families have more opportunities than ever before to achieve the American Dream of homeownership. Martinez cited the growth in homeownership and affordable housing opportunities for low-income Americans; more protections for vulnerable populations such as homeless individuals, those with AIDS, and the elderly; and a strong emphasis on community renewal and neighborhood redevelopment.

"I am proud of our achievements during this past year at HUD," said Martinez. "Our successes in creating homeownership opportunities, increasing the supply of affordable housing, and rallying the President's armies of compassion to better serve the less fortunate are making a real difference in people's lives."

Since being confirmed as the nation's 12th Housing Secretary last January, Martinez has focused on:

• Increasing Minority Homeownership. 2001 saw a record level of minority homeownership - 49%. Martinez introduced several key initiatives that have simplified the homebuying process, especially for minority and low- and moderate-income Americans.
  
  
• Ensuring Affordable Rental Housing Opportunities. Recognizing that homeownership is an important goal, but not an option for everyone, Martinez took several important steps in 2001 to expand the availability of affordable rental housing, and ensure quality and options for residents.
  
  
• Protecting Vulnerable Americans. Under the leadership of Martinez, HUD strengthened its efforts to protect the nation's most vulnerable people: adults and children from low-income families, the elderly, and those with physical and mental impairments. Martinez focused special attention on predatory lending practices, lead paint abatement, preserving affordable housing in New York and homeless assistance.
  
  
• Implementing Sound Management Reforms. Martinez has worked to restore HUD's credibility in the eyes of the American public, putting the agency on sound managerial footing and steering the agency's focus back to its core mission of helping individuals and families find affordable and decent housing.
  
  
• Terrorism Recovery Efforts. Martinez directed HUD's swift response to the terrorist acts of September 11. Most notably, HUD awarded $700 million in funding - the largest such grant in its history - to help stimulate New York City's economic recovery following the terrorist attacks. The announcement was part of the Bush Administration's $2.8 billion assistance package to help businesses affected by the attacks on the World Trade Center and to spur the City's economic recovery.

Get more details about HUD's accomplishments in these areas over the past year