HUD Puts $120M in Housing Rehab Funds on the Table

WASHINGTON, DC-HUD has just made $120 million in funds available to public housing authorities through the 2004 HOPE VI Revitalization program. The funds are to be used to rehabilitate aging public housing or replace the tattered residential facilities with mixed-income developments. The awards, which will be distributed in amounts not exceeding $20 million in May, are available to PHA applicants across the country.

“We will make awards to PHAs that show they are capable and ready to build housing soon after grants are awarded,” says HUD assistant secretary Michael Liu. “Former residents and communities benefit greatly when developments are completed on time and within budget.” Over the last 11 years, 118 PHAs have received awards accounting for a total of $5.5 billion. Since that time, 29 new communities have been created.