The Department of Housing and Urban Development (HUD) has nearly $1 billion available for improving public housing units across the country, thanks to the Obama housing stimulus bill included in the American Recovery and Reinvestment Act (ARRA).
HUD Housing Assistance and Stimulus Measures For 2009
HUD allocated $3 billion in funding to more than 3,100 public housing authorities (PHAs) last March. While these were distributed by formula, the additional $1 billion will be distributed through competitive awarding, through Public Housing Capital Funds.
In both cases, the funds will be used to improve public housing, making safer and healthier environments for lower-income families. The housing stimulus funds will also help promote energy efficiency and create jobs, aside from improving the housing facilities themselves.
Awarding of HUD Housing Assistance Funds
The housing stimulus will be awarded through a Notice of Funding Availability (NOFA) that is available at the HUD Recovery Act web page. There are four funding categories:
Energy Efficiency ($600 million) - for improving housing units to be more energy efficient.
Financing Stalled Projects ($200 Million) - for renovating or developing public housing projects stalled due to lack of funding.
Housing for the Elderly/Persons with Disabilities ($95 million) – for the creation, improvement and development of public housing units and community facilities aimed at properly delivering medical and other support services to these vulnerable population segments.
Public Housing Transformation ($100 million) – for renovating or rebuilding obsolete housing projects.
While applications for the HUD housing assistance were accepted from June 1 until July 21 of this year for energy efficiency funds, all other categories have from June 1 to August 18. PHAs that can effectively address the four categories will be awarded the housing stimulus funds.
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