- Home
- About Us
- Housing
- Resources
- Contact Us
-
-
-
Address: 223 S. Winnebago Street Rockford, IL 61102
Phone: 815-489-8500
-
-
- Updates
-
Address: 223 S. Winnebago Street Rockford, IL 61102
Phone: 815-489-8500
Address: 223 S. Winnebago Street Rockford, IL 61102
Phone: 815-489-8500
HUD No. 21-053 HUD Public Affairs (202) 708-0685 | FOR RELEASE Tuesday April 6, 2021 |
HUD ALLOCATES NEARLY $700 MILLION FOR AFFORDABLE HOUSING
Historic allocation through Housing Trust Fund will help states produce more affordable housing for extremely low- and very low-income households
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) on Tuesday announced the allocation of $689,565,492.92 through the nation’s Housing Trust Fund (HTF) for affordable housing. The Housing Trust Fund was launched in 2008 as an affordable housing production program that complements existing federal, state, and local efforts to increase and preserve the supply of decent, safe, and sanitary affordable housing for low- and extremely low-income households, including families experiencing homelessness.
See here for list of state allocations.
“This past year has reminded us just how important it is to have access to safe and stable housing. But too many Americans are struggling to keep or find an affordable home,” said Secretary Marcia L. Fudge. “We are excited to announce this historic funding allocation, which will enable states to expand and preserve affordable housing for our neighbors who need our support the most.”
The Housing Trust Fund is capitalized through the contributions made by Fannie Mae and Freddie Mac. This year’s allocation is a significant increase in funding from last year’s allocation of $322,564,267.66. This program is specifically focused on housing for some of our most vulnerable populations. HUD annually allocates HTF funds by formula. A state must use at least 80 percent of each annual grant for rental housing; up to 10 percent for homeownership; and up to 10 percent for the grantee’s reasonable administrative and planning costs. HTF funds may be used for the production or preservation of affordable housing through the acquisition, new construction, reconstruction, and/or rehabilitation of non-luxury housing with suitable amenities. All HTF-assisted units will be required to have a minimum affordability period of 30 years. The Housing Trust Fund has supported the construction or rehabilitation of 775 rental units nationally since the first were allocated in 2017. There are currently 480 additional projects under construction. This year’s funding is expected to produce more than 5,400 additional affordable units.
###
HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available at www.hud.gov and https://espanol.hud.gov.
To continue to create strategic partnerships with community stakeholders, design a diverse housing portfolio, leverage social service programming to unite and ensure residents are provided with safe and nurturing environments that lead to self-sufficiency, responsibility, and individual empowerment.
The RHA April InFocus Newsletter is Now Out!
View articles about Fair Housing Month 2024, Laura Snyder, RHA CEO's Message, and a recap of the Women of Influence event! View the rest of the RHA Newsletter here: https://rockfordha.org/newsletters/
#RHA #MovingForwardTogether
Diversity Month is more than just a monthly recognition- it's about recognizing the inherent value of each individual and the contributions they bring to our community. This Diversity Month, let's commit to promoting equity, diversity, and inclusion in all aspects of our lives.
Happy Administrative Professionals' Day to Angel Mackey and Jennifer Matlick! 🌟
Thank you for all that you do to keep RHA running smoothly!
View the full RHA Administrative Professional's Day Appreciation Blog here: https://rockfordha.org/administrative-professionals-day/
Within 5 years the RHA will re-establish itself as high performing agency that is a leader in housing and sustainable communities by developing additional, non-HUD revenue streams, increasing our asset base and offering state of the art resident initiatives.