HUD ALLOCATES MORE THAN $119 MILLION OF RECOVERY ACT FUNDING TO OKLAHOMA ONE WEEK AFTER BILL SIGNING
Nearly 75 percent of HUD Recovery Funds Allocated

OKLAHOMA CITY - 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 HUD programs, and Oklahoma's allocation for all programs was $119,410,877. 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 HUD programs, and amounts, follow:

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

The following program investments will help communities and families that have experience 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.

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 Oklahoma, the State and nine cities and counties received a total of $8,037,137 in 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 Oklahoma, the State and three cities and counties will receive a total of $12,297,934, as listed below:

Promoting Energy Efficiency and Creating Green Jobs

These program 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:

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 Oklahoma, 103 housing authorities received a total of $25,124,917, 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 Oklahoma, 36 tribes received a total of $37,465,268 as follows:

5. Lead Hazard Reduction/Healthy Homes - $100 million nationally
   Nearly $100 million will be invested in HUD's lead based paint and hazard reduction and remediation activities, including promoting local efforts to eliminate dangerous lead from lower income homes and stimulating private sector investment in lead hazard control.

Oklahoma did not receive any grants in this program.

Supporting Shovel-Ready Projects and Assisted Housing Improvements

These program 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:

6. Tax Credit Assistance Program (TCAP) - $2.25 billion nationally
   Funded under HUD's HOME Program, TCAP grants will help the Oklahoma Housing Finance Agency in Oklahoma City 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.

Oklahoma's allocation for TCAP is $25,124,917.

7. 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.

Oklahoma's allocation for this program is $10,762,053 for 59 contracts.

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