HUD Implementation of the Recovery Act
The Recovery Act includes $13.61 billion for projects and programs administered by the Department of Housing and Urban Development, nearly 75 percent of which was allocated to state and local recipients on February 25, 2009 – only eight days after President Obama signed the Act into law. Recovery Act investments in HUD programs will be not just swift, but also effective: they will generate tens of thousands of jobs, modernize homes to make them energy efficient, and help the families and communities hardest hit by the economic crisis. Almost all of the remaining 25 percent of funds have been awarded via competition since that time.
Additional guidance on the implementation of all funds will be routinely provided on this website.
Promoting Energy Efficiency and Creating Green Jobs
These investments are powerful vehicles for economic recovery because they work quickly, are labor-intensive, create jobs where they are needed most, and lead to lasting neighborhood benefits. Many will also reduce greenhouse gas emissions and save Americans money by retrofitting housing to make it more energy efficient.
Public Housing Capital Fund: $4 billion invested in energy efficient modernization and renovation of our nation's critical public housing inventory.
Native American Housing Block Grants: $510 million invested in energy efficient modernization and renovation of housing maintained by Native American housing programs, and the development of sustainable communities.
Assisted Housing Energy Retrofit: $250 million invested in energy efficient modernization and renovation of housing of HUD-sponsored housing for low-income, elderly, and disabled persons.
Lead Hazard Reduction: $100 million invested in lead based paint hazard reduction and abatement activities.
Supporting Shovel-Ready Projects and Assisted Housing Improvements
These investments will support a broad range of housing and community development projects that are ready to go. Many of these projects have been held up for lack of private investment due to fallout from the broader economic crisis and credit crunch.
Tax Credit Assistance Program: $2.25 billion invested in a special allocation of HOME funds to accelerate the production and preservation of tens of thousands of units of affordable housing.
Project-Based Rental Assistance: $2 billion invested in full 12-month funding for Section 8 project-based housing contracts. This funding will enable owners to undertake much-needed project improvements to maintain the quality of this critical affordable housing.
Promoting Stable Communities and Helping Families Hardest Hit by the Economic Crisis
These investments will help communities and families that have experienced the brunt of the economic downturn. Resources will be used to stabilize and revive local neighborhoods and housing markets with heavy concentrations of foreclosed properties. Funds will also assist the vulnerable families and individuals who are on the brink of homelessness or have recently become homeless.
Neighborhood Stabilization Program: $2 billion invested in mitigating the impact of foreclosures through the purchase and rehabilitation of foreclosed, vacant properties in order to create more affordable housing and renew neighborhoods devastated by the economic crisis.
Homelessness Prevention: $1.5 billion invested in preventing homelessness and enabling the rapid re-housing of homeless families and individuals, helping them reenter the labor market more quickly and preventing the further destabilization of neighborhoods.
Community Development Block Grants: $1 billion for approximately 1,200 state and local governments to invest in their own community development priorities. Most local governments use this investment to rehabilitate affordable housing and improve key public facilities – stabilizing communities and creating jobs locally. Tribes that received Indian Community Development Block Grant funds in fiscal year 2008 are eligible to compete for a portion of these the CDBG funds.