NEWPORT, KY (FOX19) - Kentucky Gov. Steve Beshear visited Newport on Friday to announce a large housing grant.
The governor gave the city a check for $1 million to help develop 10 units of low to moderate income housing on 18th and 19th Streets in Newport.
"Owning a house is part of the American dream, yet due to recent economic hardships and the catastrophic housing crisis, many people have found that dream to be unattainable," Governor Beshear said.
The money is from community block grants, a type of HUD grant.
The new housing units will be constructed on vacant lots currently owned by the Newport Millennium Housing Corporation.
Households eligible to obtain the new units will be selected from a pool of individuals that have graduated from an approved homeownership training program.
Households receiving assistance will be required to maintain the purchased home as their primary place of residence and must keep the purchased home in compliance with local applicable housing and building codes.
Newport has a high demand for affordable housing. Only 44 percent of the city's residents are homeowners compared to the Kentucky statewide average of 71 percent.