There are 43 segments of grants that cover a range of pertinent topics, but it is the Targeted Housing and Homeless Assistance portion of SuperNOFA that will make available more than $1.8 billion in grants for new and rehabilitated housing catering to those in low-income brackets and the homeless.

The Targeted Housing segment consists of three programs: Supportive Housing, Shelter Plus Care and Section 8 Moderate Rehabilitation for Single Room Occupancy for Homeless Individuals. This allotted parcel of cash, however, is not part of the $30.2-billion package HUD will divvy up among the nation's communities in the form of block grants and housing vouchers, so interested parties have to vie for the $1.8 billion.

"This is a highly competitive process that begins with the publication of SuperNOFA," HUD's Brian Sullivan explains to GlobeSt.com. Local government entities, non-profit faith-based associations and community organizations are eligible to compete for the funds, the applications for which are due on July 15.