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Housing Authorities Use Recovery Act Funds to Save Properties and JobsFunding provided by the American Recovery and Reinvestment Act of 2009 (the ARRA) is beginning to make a real difference in local communities throughout Missouri and the rest of the country. In Excelsior Springs and Sikeston, Missouri, the local housing authorities have used "stimulus" grants to make major capital improvements to their properties while greatly improving the living conditions of low-income residents and creating as well as retaining jobs. For many housing authorities, the ARRA money could not have arrived at a better time. Excelsior Springs Housing Authority - In 2003, about half of the 50 units at North Winds Development Project
Using HUD's Capital Fund Financing Program, most of the project was scheduled to be rehabilitated with a new loan, but the project fell short of the total funds needed for completion. The Recovery Act's grant funds will now enable
At one time, this project was in a desparate situation and many residents lived in unhealthy blight. The property is now a desirable place to live, and it is a shining example of what is possible for the affordable housing community. In addition, some police officers and their families now live in the development, adding even greater interest by future tenants. The added security and attractive modernization work is now nearing completion, and has been greatly enhanced by the additional Recovery Act funds. Housing Authority of the City of Sikeston - During a recent visit to HUD's field office in St. Louis, MO, Bobby Henry, the Executive Director of the Housing Authority in Sikeston, MO, described the use of the Recovery Act grant as a real success story. "We have three contractors working on our Developments receiving contracts funded by the ARRA Capital Fund Grant. Between the three contractors, three new employees have been hired and seven employees were retained all because of the "Stimulus" Grant received by the Sikeston Housing Authority." For more information about the American Recovery and Reinvestment Act of 2009, please see visit HUD's Recovery Act website.
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Content Archived: May 7, 2013 | |||
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