Congresswoman Nita Lowey (D-NY) Reports on $24.6 BB to New York
New York is expected to receive $24.6 Billion in funds from the recently passed American Recovery and Reinvestment Act, signed into law by President Obama. New York Congresswoman Nita Lowey met with the Westchester Hispanic Chamber of Commerce to outline opportunities for local initiatives in many areas, including housing. Below is a summary of housing programs available in New York State. Congresswoman Lowey encourages you to visit http://www.economicrecovery.ny.gov/ to submit specific projects for consideration or for more information on available funds. Here is your bailout.
Grants: Public Housing Authorities for Capital Needs Grants
Amount: $4 billion
Type: $3 Billion States receive funding through a formula
$1 billion was also included for competitive grants
Office: Office of Public and Indian Housing - Office of Capital Improvements
Agency: U.S. Department of Housing and Urban Development
Description: Funds to Public Housing Agencies (PHAs) for building repair and modernization, including critical safety repairs.
Website: http://www.hud.gov/offices/pih/programs/ph/capfund/ocir.cfm
HUD Recovery State Formulas: http://www.hud.gov/offices/pih/programs/ph/capfund/grants/arra/index.cfm
Grants: Homelessness Prevention Fund
Amount: $1.5 billion
Type: States and localities receive funding through a formula
Agency: Department of Housing and Urban Development
Purpose: Funding provides short-term homeless prevention assistance to those losing their housing.
Website: http://www.hud.gov/offices/cpd/homeless/programs/esg/
HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm
Grants: Community Development Block Grants
Amount: $1 billion was included in formula funds to be distributed to local communities and states for community development and affordable housing activities.
Type: States and localities receive funding through a formula
Administrator: Department of Housing and Urban Development
Description: Funding for community and economic development projects including housing and services for those hit hard by tough economic times.
Website: http://www.hud.gov/recovery/cdblock.cfm
HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm
Grants: Neighborhood Stabilization Program
Amount: $2 billion
Office : Office of Community Planning and Development
Agency: U.S. Department Of Housing and Urban Development
Type: Competitive Grants
Description: Help communities purchase and rehabilitate foreclosed, vacant properties in order to create more affordable housing and reduce neighborhood blight.
Website: http://www.hud.gov/offices/cpd/communitydevelopment/programs/neighborhoodspg/
HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm
Grants: Lead Hazard Reduction Program
Amount: $100 million
Office: Office of Healthy Homes and Lead Hazard Control
Agency: U.S. Department Of Housing and Urban Development
Type: Competitive Grants
Description: Funds for competitive grants to local governments and nonprofit organizations to remove lead based paint hazards in low-income housing.
Website: http://www.hud.gov/offices/lead/grantprograms.cfm
HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm
Grants: Native American Housing
Amount: $510 Million for rehabilitation and energy efficiency upgrades at housing maintained by Native
American housing programs
Agency: U.S. Department Of Housing and Urban Development
Type: $255 Million through a formula
$255 Million for competitive grants
Eligibility: Eligible applicants include Indian tribes or tribally designated housing entities (TDHEs) eligible to receive funding under NAHASDA (25 U.S.C. 4101 et seq.)
Website: http://www.hud.gov/recovery/native-american-formula.cfm
HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm
Grants: HOME Investment Partnership Program
Amount: $2.25 billion
Agency: U.S. Department Of Housing and Urban Development
Type: Funds will distributed by formula to states
Description Funds will provide state and local governments with funds to create and rehabilitee affordable housing
Website: http://www.hud.gov/offices/cpd/affordablehousing/programs/home/
HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm
Grants: Tax Credit Assistance Program (TCAP)
Amount: $2.25 billion
Agency: U.S. Department of Housing and Urban Development
Type: Funds will distributed by formula to 52 State Housing Credit Agencies
Description: Funding for capital investment in Low Income Housing Tax Credit (LIHTC) projects via a formula-based allocation to State housing credit allocation agencies
Website: http://www.hud.gov/recovery/tax-credit.cfm
Grants: Home Weatherization Assistance Program
Amount: $5 billion
Agency: U.S. Department of Energy and Housing and Urban Development
Type: States receive funding through a formula
Description: Funds to assist low-income families reduce their energy bills by making their homes more energy efficient
Website: http://apps1.eere.energy.gov/weatherization/doe_guidelines.cfm
State Contact Info: http://apps1.eere.energy.gov/weatherization/state_contacts.cfm
Grants: Rural Housing Insurance Fund
Amount: $200 million
Agency: USDA - Rural Development - Rural Housing Service
Type: Direct and guaranteed loans
Description: Funds to insure or guarantee rural housing loans for single-family homes, rental and cooperative housing, and rural housing sites
Website: http://www.rurdev.usda.gov/rhs/
Forms: http://www.rurdev.usda.gov/regs/formstoc.html
Grants: Rural Community Facilities
Amount: $130 million
Agency: U.S. Department of Agriculture - State Rural Development Office
Type: Competitive Grants
Description: Funds to support grants and loans to rural areas for critical community facilities, such as for healthcare, education, fire and rescue, day care, community centers, and libraries.
Website: http://www.rurdev.usda.gov/rhs/cf/cp.htm