HUD Awards Over $1B in Recovery Act Funds to Jump Start Affordabl

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HUD Awards Over $1B in Recovery Act Funds to Jump Start Affordabl

Jul 2nd, 2009, 11:30 AM #1 (permalink)

The U.S. Department of Housing and Urban Development is approving plans submitted by state housing finance agencies for $1 billion to jump start affordable housing programs in states throughout the country that are currently stalled due to the economic recession. Funded through the American Recovery and Reinvestment Act of 2009, HUD's new Tax Credit Assistance Program will allow 26 state housing finance agencies to resume funding of affordable rental housing projects across the nation while stimulating employment in the hard-hit construction trades.

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