April 2, 2020

HUD: $3 Billion of COVID-19 Relief Funding Made Available to Communities Across the Nation

In addition to funding, mortgage servicers instructed to offer deferred or reduced mortgage payments for up to 6 months

President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law last Friday, providing much needed assistance to the American people as the country works diligently to combat COVID-19. Thanks to the President’s leadership, families and communities across the country will immediately feel the impact of this relief package as the federal government works to make these funds available.

After the President signed the CARES Act, Secretary Ben Carson directed the U.S. Department of Housing and Urban Development (HUD) to immediately begin allocating $3.064 billion to help America’s low-income families and most vulnerable citizens. These funds will be awarded quickly by using existing grant formulas; they will also be accompanied by new guidance that cuts red tape so grantees can quickly help their communities.

“President Trump has said repeatedly that combating coronavirus will take a whole-of-government response, so we are glad to see Congress come together and join in our efforts to provide relief for the American people,” said Secretary Carson. “During this national emergency, HUD has taken quick action to help our country’s most vulnerable citizens and this additional support from Congress will help us continue to fulfill that mission.”

HUD is making available $3.064 billion through its Community Development Block Grant, Emergency Solutions Grant, and Housing Opportunities for Persons With AIDS programs.

Additional funds will follow this first tranche. The CARES Act allows HUD to broaden the reach of its existing grant programs for the remaining $9.136 billion in relief funding to meet our country’s unique needs during this time. To do this, new grant formulas must be written. HUD began writing new formulas immediately and will continue to work quickly to address communities’ needs and ensure these funds go to people and do not get delayed by bureaucratic red tape.

This post was originally published here.