NAHMA HUD Update: HUD Provides $5.5 Billion in Grants for Affordable Housing Community Planning and Economic Development
HUD today announced the Office of Community Planning and Development's (CPD) program formula allocations for Fiscal Year (FY) 2021.
HUD Provides $5.5 Billion in Grants for Affordable Housing Community
HUD today announced the Office of Community Planning and Development's (CPD) program formula allocations for Fiscal Year (FY) 2021. HUD awarded $5.5 billion in funding to local programs throughout the country that provide affordable housing, community development and economic opportunity, and support to individuals and families experiencing homelessness.
Planning and Economic Development
The grants announced today are provided through the following HUD programs:
- $3.4 billion — The Community Development Block Grant Program (CDBG) provides annual grants on a formula basis to states, cities, and counties to develop viable urban communities by providing decent housing and a suitable living environment, and by expanding economic opportunities, principally for low- and moderate-income persons.
- $1.3 billion — The HOME Investment Partnerships Program (HOME) provides funding to states and localities that communities use - often in partnership with local nonprofit groups - to fund a wide range of activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership or providing direct rental assistance to low-income people.
- $387 million — The Housing Opportunities for Persons with AIDS (HOPWA) grants provides rental housing assistance for persons living with HIV/AIDS and their families.
- $290 million — Emergency Solutions Grants (ESG) provides funds for homeless shelters, assists in the operation of local shelters and funds related social service and homeless prevention programs.
- $25 Million—The Recovery Housing Program (RHP) allows states and the District of Columbia to provide stable, transitional housing for individuals in recovery from a substance-use disorder.
To view the official HUD Press Release, click here.