HUD ALLOCATES MORE THAN $176 MILLION OF RECOVERY ACT FUNDING TO LOUISIANA ONE WEEK AFTER BILL SIGNING
Nearly 75 percent of HUD Recovery Funds Allocated

NEW ORLEANS - The U.S. Department of Housing and Urban Development (HUD) today allocated nearly 75 percent
of its funding, or $10.1 billion, made available through the American Recovery and Reinvestment Act of 2009.
Today's funding was allocated among seven different HUD programs, and Louisiana's total allocation for all programs was $176,455,798; the amounts for individual cities and counties for each program are listed below.

The Recovery Act includes $13.61 billion for projects and programs administered by HUD, 75 percent of which was allocated to recipients today - only one week after President Obama signed the Act into law.

The funding announced today is primarily formula-based, meaning that it is allocated using set program criteria that
do not require grantees to apply for the funds, allowing them to be allocated very quickly. The remaining 25 percent of the funds, which will be competitively awarded later, will be used to build on the President's priorities to promote green jobs and mitigate the destabilizing effects of foreclosures on communities.

"I am pleased to announce that we are moving swiftly to get these much-needed funds out to states and cities
to create jobs and help stimulate our economy," said HUD Secretary Shaun Donovan. "Recovery Act investments
in HUD programs will be not just swift, but also effective: they will generate tens of thousands of jobs, help the families and communities hardest hit by the economic crisis, and modernize homes to make them energy efficient."

The seven programs and allocations are:

1) Community Development Block Grant Program (CDBG) - $1 billion nationally
HUD is allocating nearly $1 billion to approximately 1,200 state and local governments nationwide through the Department's Community Development Block Grant (CDBG) program to target their own community development priorities. Most local governments use this investment to rehabilitate affordable housing and improve key public facilities - helping to stabilize communities and create jobs locally.

In Louisiana, the State and 14 cities and counties received a total of $17,370,857 in CDBG funding, listed below:

2) Emergency Shelter Grant Program/Homelessness Prevention - $1.5 billion nationally
HUD is allocating nearly $1.5 billion to state and local governments to help rapidly re-house homeless persons and families who enter shelters.

In Louisiana, the State and six cities/parishes will receive a total of $26,576,197, as listed below:

3) Public Housing Capital Fund Program - $3 billion nationally
HUD is allocating nearly $3 billion to 3,134 public housing agencies to develop, finance, and modernize public housing in their communities. Local PHAs will use this funding for energy-efficient modernization and to make large-scale improvements to public housing developments, including critical safety repairs. In addition to the funding allocated through this capital fund, HUD is working to competitively award another $1 billion to local housing agencies to support catalytic investments, particularly investments that leverage private sector financing to retrofit public
housing and enhance energy conservation.

In Louisiana, 102 housing authorities received a total of $72,894,140, as listed below:

4) Native American Housing Block Grant (IHBG) - $255 million nationally
Tribal entities will use this funding for energy efficient modernization of and renovation of housing maintained by Native American housing programs. In addition to the funding allocated through formula funding, HUD will
competitively award another $242 million for Native American grants later this year. Also, pursuant to today's
recovery formula funding, HUD is allocating $10.2 million for Native Hawaiian Housing.

In Louisiana, a total of $226,865 was allocated as follows:

5) Tax Credit Assistance Program (TCAP) - $2.25 billion nationally
Funded under HUD's HOME Program, TCAP grants will help the Louisiana Housing Finance Agency to kick-start
the production of stalled affordable rental housing projects that rely on Low-Income Housing Tax Credits. These agencies will distribute the funds competitively and give priority to housing projects that can begin construction immediately.

Louisiana's allocation for TCAP is $39,383,397.

6) Project-Based Rental Assistance - $2 billion
HUD is allocating $2 billion to invest 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.

Louisiana's allocation for this program is $20,004,342 for 75 contracts.

7) Lead Hazard Reduction Grants

There were no grantees in Louisiana.

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HUD is the nation's housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet and espanol.hud.gov.