Posted by: realtormarkpalace | October 19, 2011

HUD to Fla.: $160.6M in housing assistance

MIAMI – Oct. 18, 2011 – The U.S. Department of Housing and Urban Development (HUD) today announced that Florida will receive $160,638,782 to support community development and produce more affordable housing.

HUD’s annual funding also helps individuals and families living on the street and provides permanent housing for individuals with HIV/AIDS.

The Fiscal Year 2011 Continuing Resolution – which impacts money for the 2012 year – significantly reduced overall funding for the Community Development Block Grant (CDBG) and HOME Investment Partnerships (HOME) programs compared to last year. The nation’s CDBG funding was reduced by more than $600 million, or approximately 16.5 percent, while the HOME program funding was reduced by more than $200 million, or approximately 11.7 percent.

“This year’s block grant funding requires tough choices that we would not have made in better circumstances,” HUD Secretary Shaun Donovan said. “As we work under the challenges of our nation’s deficit, we must also understand that these programs are absolutely essential in promoting community development, producing affordable housing, helping our homeless and even supporting long-term disaster recovery.”

For Florida, the funding includes:

• $94,545,171 in CDBG funds
• $40,017,352 in HOME funding
• $2,835,333 in Emergency Shelter Grant (ESG)
• $23,240,926 for Housing Opportunities for Persons with AIDS (HOPWA).

Total: $160,638,782

Community Development Block Grant (CDBG) Program
CDBG largely targets affordable housing rehabilitation and the improvement of public facilities, although the program is also a catalyst for job growth and business opportunities. Annual CDBG funds are distributed to communities according to a statutory formula based on a community’s population, poverty, age of its housing stock, and extent of overcrowding.

HOME (HOME Investment Partnerships Program)
HOME is the largest federal block grant to state and local governments, designed exclusively to produce affordable housing for low-income families.

Emergency Shelter Grants (ESG)
ESG provides basic shelter for the homeless along with support services. ESG also provides short-term homeless prevention assistance to persons at imminent risk of losing their own housing due to eviction, foreclosure or utility shutoffs.

Housing Opportunities for Persons with AIDS (HOPWA)
HOPWA is distributed to states and cities based on the number of AIDS cases reported to the Centers for Disease Control and Prevention.

© 2011 Florida Realtors®

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