Nashville selected to President Obama's Promise Zone Initiative
UPDATE: Parts of Nashville are now designated "promise zones."
The HUD designation creates partnerships to focus on six high poverty neighborhoods. It's a 10-year commitment that gives Nashville priority access to federal investments when competing for grants.
"It gives us these extra points, so when were out applying for other grants it helps us get more money," Mayor Megan Barry said Monday. "You go today but some of these communities across the country, they've been able to leverage over $500 million new money into their community and that's exactly what we're hoping here."
HUD is also sending additional personnel to work with MDHA.
They'll focus on job creation, reducing crime, affordable housing and improved educational opportunities.
NASHVILLE, Tenn.--Nashville is among nine cities selected to work with the Federal government on expanding economic opportunity for high poverty areas.
The "Promise Zone Initiative" allows for selected cities to receive priority access to federal grants and tap into other federal resources in an effort to revitalize communities struck by poverty, improved educational opportunities, reduce crime and "improve the quality of life" in vulnerable areas.
Nashville and Atlanta are among the nine cities to be named as part of the Promise Zone Initiative, joining 13 other cities which have participated since 2014.
Mayor Megan Barry will issue a statement on the announcement at 2pm CST.
The Promise Zones Initiative was launched by President Obama and his administration in 2014. Designation as a Promise Zone confers "10 years of significant Federal support" according to a Fact Sheet issued by the Obama administration. The previous 13 cities have reportedly "garnered over $550 million in Federal investments" in an effort to assist high-poverty communities.
See the Promise Zone Initiative Face Sheet Below or CLICK HERE.