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HUD   >   Recovery   >   Programs   >   Public Housing Capital Fund (Formula)

Public Housing Capital Fund (Formula)

Program Description
The Public Housing Capital Fund provides funds for the capital and management activities of Public Housing Agencies as authorized under Section 9 of the United States Housing Act of 1937 (42 U.S.C. 1437g) (the "Act"), including modernization and development of public housing. The funds cannot be used for operations or rental assistance.

Public housing authorities shall give priority to capital projects that can award contracts based on bids within 120 days from the date the funds are made available to the public housing authorities. Public housing agencies shall give priority consideration to the rehabilitation of vacant rental units and capital projects that are already underway or included in the 5-year capital fund plans required by the Act (42 U.S.C. 1437c-1(a)). Any restriction of funding to replacement housing uses shall be inapplicable. Funds provided shall supplement and not supplant expenditures from other Federal, State, or local sources or funds independently generated by the grantee. Notwithstanding Section 9(j), public housing agencies shall obligate 100 percent of the funds within one year of the date on which funds become available to the agency for obligation, shall expend at least 60 percent of funds within two years of the date on which funds become available to the agency for obligation, and shall expend 100 percent of the funds within three years of such date.

For more detailed information related to Capital Fund Formula or Competition Recovery Act information, please refer to the Office of Capital Improvements Recovery Act Information web site.

Read the Public Housing Capital Fund Program Plan
Process for Making Awards
Funds shall be obligated to public housing agencies within 30 days of enactment of the American Recovery and Reinvestment Act of 2009, which was signed February 17, 2009. Each public housing authority will execute a Capital Fund Program Amendment to the Annual Contributions Contract (ACC), which must be signed by the local HUD Field Office. The authorities will provide the local HUD Field Office an Annual Statement specifying how the funds are to be used, and the Field Office spreading the individual budget line items (BLIs) in HUD Line of Credit Control System (LOCCS).
Eligible Applicants
Public Housing Agencies that own or operate Low Income Public Housing and are eligible to receive capital funding under Section 9 of the United States Housing Act of 1937.

See Allocations by Grantee
"Because of the steps we took, there are about two million Americans working right now who would otherwise be unemployed...The plan that has made all of this possible, from the tax cuts to the jobs, is the Recovery Act."

- President Barack Obama
Promoting Energy Efficiency and Creating Green Jobs

Supporting Shovel-Ready Projects and Assisted Housing Improvements

Promoting Stable Communities and Helping Families Hardest Hit by the Economic Crisis