The U.S. Department of Housing and Urban Development (HUD) announced today that it will make available $41 million for local affordable housing and community development activities that benefit people with low-incomes. The funding is being awarded through HUD’s Capacity Building for Affordable Housing and Community Development program, also known as Section 4.
“President Biden’s top priority is lowering costs for the American people, and at HUD, we are working to increase the supply of affordable housing to ease the burden of housing costs,” said HUD Secretary Marcia L. Fudge. “With the funds, communities can scale up their efforts to provide safe, affordable homes for their residents and meet their community development needs.”
The Section 4 program enhances the capacity and ability of housing development organizations like Community Development Corporations (CDCs) and Community Housing Development Organizations (CHDOs), to carry out affordable housing and community development activities for the benefit of low- and moderate-income families and persons.
Three national organizations, Enterprise Community Partners, Local Initiatives Support Corporation (LISC), and Habitat for Humanity International, will receive the funds, which are expected to spur nearly $122 million in total investments with the help of 3:1 matching grants.
|Local Initiatives Support Corporation||$17,000,000|
|Enterprise Community Partners||$15,000,000|
|Habitat for Humanity International||$9,000,000|
Additional Information on HUD’s Fiscal Year 2021 Section 4 Grantees
Local Initiatives Support Corporation (LISC) will receive a Section 4 grant award in the amount of $17 million with a 3 to 1 match commitment of $51 million. LISC will use Section 4 funding to build capacity of CDCs to meet the housing and economic development needs of people with low and moderate incomes. LISC will use its funds to address CDC’s needs for financial stability, strong leadership and governance, technical know-how and digital infrastructure, and partnership networks.
Enterprise Community Partners will receive a Section 4 grant award in the amount of $15 million with a 3 to 1 match commitment of $45 million. Enterprise’s funds will be used to provide capacity building and technical assistance to their partners to address the overarching needs for racial equity in housing, increasing the housing supply, and fostering upward mobility in the communities they serve.
Habitat for Humanity International will receive a Section 4 grant award in the amount of $9 million with a 3 to 1 match of $27 million. Habitat will use its award to increasing CDC staff to bolster internal infrastructure, develop a 3-year plan that aims to advance Black homeownership, and support rural housing organizations, among other capacity-building activities.
Leave A Comment?
You must be logged in to post a comment.