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Community and Economic Development and Housing Public Housing Capital Fund
Total Funding Available: $4 billion ($3 billion per formula; $1 billion competitive)
Overview
$3 billion to public housing authorities per formula for the Public Housing Capital Fund for capital improvements related to public housing. Money will become available to public housing agencies within 30 days of signing the bill.
In addition, there is another $1 billion for public housing authorities in competitive grants to public housing authorities for priority capital improvements and rehabilitation. Funding remains available until September 30, 2009.
Special Factors
Grantees must obligate all funding in one year; then spend 60 percent of funds within two years and 100 percent of the funds in three years. Secretary can recapture funds if timelines are not met. Funds must be used to supplement, not supplant, other funding sources. Priority is given to projects that can award contracts in 120 days.
In the competitive grant program, priority is given to rehabilitation of vacant rental units, projects within five-year capital improvement plans, and capital projects that can be awarded in 120 days from receipt of funding.
How to Access Funding
• $3 billion to be distributed to public housing authorities under the same formula used in 2008, except that the Secretary may determine not to allocate funding to “troubled” or to agencies that elect not to accept funding.
• $1 billion competitive will likely be available through application process to be created by HUD
Federal Contact
Department of Housing and Urban Development
Office of Capitol Improvements, Public and Indian Housing
www.hud.gov/offices/pih/programs/ph/capfund/index.cfm
State Contact
Funding not administered by DHCD. Funds go directly to local housing authorities. If you have any general questions related to public housing, please contact the Division of Public Housing and Rental Assistance at (617) 573-1150.
MMA Staff Contact
Matthew G. Feher, This e-mail address is being protected from spambots. You need JavaScript enabled to view it , (617) 426-7272
Community and Economic Development and Housing Public Housing Capital Fund
Public Housing Capital Fund
Total Funding Available: $4 billion ($3 billion per formula; $1 billion competitive)
Overview
$3 billion to public housing authorities per formula for the Public Housing Capital Fund for capital improvements related to public housing. Money will become available to public housing agencies within 30 days of signing the bill.
In addition, there is another $1 billion for public housing authorities in competitive grants to public housing authorities for priority capital improvements and rehabilitation. Funding remains available until September 30, 2009.
Special Factors
Grantees must obligate all funding in one year; then spend 60 percent of funds within two years and 100 percent of the funds in three years. Secretary can recapture funds if timelines are not met. Funds must be used to supplement, not supplant, other funding sources. Priority is given to projects that can award contracts in 120 days.
In the competitive grant program, priority is given to rehabilitation of vacant rental units, projects within five-year capital improvement plans, and capital projects that can be awarded in 120 days from receipt of funding.
How to Access Funding
• $3 billion to be distributed to public housing authorities under the same formula used in 2008, except that the Secretary may determine not to allocate funding to “troubled” or to agencies that elect not to accept funding.
• $1 billion competitive will likely be available through application process to be created by HUD
Federal Contact
Department of Housing and Urban Development
Office of Capitol Improvements, Public and Indian Housing
www.hud.gov/offices/pih/programs/ph/capfund/index.cfm
State Contact
Funding not administered by DHCD. Funds go directly to local housing authorities. If you have any general questions related to public housing, please contact the Division of Public Housing and Rental Assistance at (617) 573-1150.
MMA Staff Contact
Matthew G. Feher, This e-mail address is being protected from spambots. You need JavaScript enabled to view it , (617) 426-7272
Last Updated on March 23, 2009
