Sunday, August 29, 2004

Feds give $2.5 billion to public housing

Funding to cover capital improvements, new-unit construction

The U.S. Department of Housing and Urban Development will give the nation's 3,107 public housing authorities a total of $2.5 billion in funding to make major improvements to existing public housing units or to build or acquire new units for public housing, HUD Secretary Alphonso Jackson announced Thursday.

The funding, from HUD's Capital Fund program, is distributed annually to local public housing authorities (PHA) to fund major capitaInman News improvements, such as updating old plumbing or electrical systems, replacing roofs, installing new windows or any major modernization activities, or to construct or acquire new units.

"This funding is about the residents," said Jackson. "It is given to housing authorities to upgrade their developments to ensure their public housing are safe and decent for their residents."

In addition to capital improvement funds, HUD also gives PHAs annual funds to cover day-to-day operating and maintenance expenses of public housing developments. For 2004, HUD will distribute $3.5 billion to housing authorities from HUD's Operating Subsidy Program. HUD is a federal agency that implements housing policy.

Inman News

2 comments:

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