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October 2, 2019
HUD AWARDS THREE ARKANSAS AGENCIES HOUSING COUNSELING GRANTS
Funding intended to help families find and keep their homes
LITTLE ROCK - The U.S. Department of Housing and Urban Development (HUD) today awarded $42.8 million in housing counseling grants to help approximately one million Americans make more informed housing choices, keep their current homes, or receive assistance to help them avoid foreclosure. In Arkansas, three housing counseling agencies shared $69,821, which should help counsel over 4,400 people. Nearly half of the state and local counseling agencies awarded HUD grants received preference because they will provide counseling to individuals and families within designated Opportunity Zones (see attached list).
"HUD-approved housing counseling agencies are on the front lines of helping individuals and families to find affordable rental housing or make more informed homeownership choices," said HUD Secretary Ben Carson. "The funding we announce today will help families to realize their dreams-whether it's owning a home, avoiding foreclosure, or finding an affordable place to rent."
These grants will directly support the housing counseling services provided by 207 HUD-approved local housing counseling agencies, national and regional organizations, and state housing finance agencies (SHFAs). Read a comprehensive summary of each housing counseling grant.
Grant recipients will provide services to address a full range of housing counseling needs. This includes assisting homebuyers in evaluating their readiness for a home purchase and navigating through the homebuying process. The organizations also help households find affordable rental housing, offer financial literacy training to individuals and families, and provide foreclosure prevention counseling to help homeowners facing delinquency or default to understand their options for avoiding foreclosure.
In addition to providing counseling to homeowners and renters, these organizations assist homeless persons in finding transitional housing and help seniors determine whether a reverse mortgage makes sense for them.
There are many ways to locate a HUD-approved housing counseling agency. Visit HUD's website or call (800) 569-4287 for our interactive telephone directory. Watch HUD's video (www.youtube.com/watch?v=In_1bZHigJQ) on how housing counseling can help families find (and keep) housing.
Housing Counseling Grants in Opportunity Zones
Created under the 2017 Tax Cuts and Jobs Act, Opportunity Zones aim to stimulate long-term investments in low-income communities by offering significant capital gains tax relief to those who invest in these distressed areas. This initiative is anticipated to spur $100 billion in private capital investment in Opportunity Zones. Incentivizing investment in low-income communities fosters economic revitalization, job creation, and promotes sustainable economic growth across the nation, especially in communities HUD serves. Applicants seeking funding under HUD's Housing Counseling grant program receive bonus points to further drive public investment to these areas.
Fiscal Year 2019 Housing Counseling Grants
|Arkansas||Northwest Regional Housing Authority||Harrison||$16,272|
|Southern Bancorp Community Partners*||Little Rock||$27,529|
|Universal Housing Development Corporation||Russellville||$26,020|
* Grantees received preference points for qualified activities within a designated Opportunity Zone.
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. More information about HUD and its programs is available on the Internet at www.hud.gov and https://espanol.hud.gov.
You can also connect with HUD on social media and follow Secretary Carson on Twitter and Facebook or sign up for news alerts on HUD's Email List.