November 3, 2004
HUD ANNOUNCES $120 MILLION AVAILABLE TO HOUSING AUTHORITIES FOR PUBLIC HOUSING TRANSFORMATION, COMMUNITY REVITALIZATION
WASHINGTON - The U.S. Department of Housing and Urban Development today announced the availability of $120 million in grants for the 2004 HOPE VI Revitalization program. Public housing authorities (PHAs) use this funding to replace aged public housing with new mixed-income communities.
The Notice of Funding Availability (NOFA) appears in today's Federal Register and on HUD's website. PHAs have until February 1, 2005 to submit for the highly competitive grants. Awards will be made on or near May 2, 2005. The maximum grant award is $20 million.
"We will make awards to PHAs that show they are capable and ready to build housing soon after grants are awarded," said Assistant Secretary Michael Liu. "Former residents and communities benefit greatly when developments are completed on-time and within budget."
In addition to the $120 million, there is $20 million available in Housing
Choice Voucher (Section 8) assistance for PHAs that are awarded grants. This
funding is used to relocate residents who are displaced because of construction.
Relocated residents in good standing will be given an opportunity to move back
to the newly constructed units, or will be given vouchers to subsidize their
rents in privately owned apartments if they choose not to return to public housing.
There have been 217 HOPE VI Revitalization grants awarded to 118 housing authorities since 1993 - totaling $5.5 billion. To date, 29 developments have been completed. Revitalization grant funds may be used for an array of activities, including: demolition of severely distressed public housing; acquisition of sites for off-site construction; capital costs of major rehabilitation, new construction and other physical improvements; and community and supportive service programs for residents, including those relocated as a result of revitalization efforts.
HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; 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 as well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet and espanol.hud.gov.
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