HUD: Third Wave of CAREs Act Funding Provides $1 Billion for Communities
Third wave of relief funding targeted for states and insular areas The U.S. Department of Housing and Urban Development Secretary Ben Carson today announced the allocation of a third wave in CARES Act coronavirus relief funding. This wave totaling $1 billion is through the Community Development Block Grant (CDBG) program. To date, HUD has provided over $3…
HUD: Pandemic Underscores Need for HUD’s Foster Youth Housing Program; Department Allocates New Funding to Six States
Foster Youth to Independence Initiative has now issued over $1.1 million in funding U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced $100,000 in the latest installation of grants for HUD’s new Foster Youth to Independence (FYI) Initiative. Six housing authorities will receive this funding, continuing HUD’s efforts to assist young adults…
ABA: Foundation Encourages Banks to Submit Nominations for Annual Community Commitment Awards
The ABA Foundation is seeking submissions for its eighth annual Community Commitment Awards. The awards, one of the industry’s highest honors for extraordinary bank commitment to communities, recognizes innovative, high-impact programs that improve the quality of life for the customers and communities banks serve. The entry period ends July 1. “Now more than ever, America’s banks…
HUD: $130 Million Awarded to Revitalize Four Neighborhoods
Federal investments expected to attract more than a $1.5 billion in additional funding for neighborhood reinvestment Today, the U.S. Department of Housing and Urban Development (HUD) announced four communities across the country will receive a combined $130 million to redevelop severely distressed public housing and to revitalize surrounding neighborhoods. Provided through HUD’s Choice Neighborhoods Initiative,…
HUD: New CAREs Act Multifamily Mortgage Payment Relief Implemented to Maintain and Preserve Affordable Rental Housing
Multifamily borrowers can request up to 90 days of mortgage payment forbearance from their servicer Today, the U.S. Department of Housing and Urban Development (HUD) announced it is issuing new mortgage payment relief guidance under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) for borrowers with multifamily mortgages insured by the Federal Housing…
HUD: $16 Million Awarded to Public Housing Authorities to Help Tenants Relocate
Today, U.S. Department of Housing and Urban Development (HUD) awarded $16 million to Public Housing Authorities to provide tenant protection vouchers to Public Housing (Low-Rent) Program assisted residents. These vouchers will help households with relocation or replacement housing when their Public Housing units are slated under a HUD-approved plan for demolition and disposition actions or…
HUD: Housing Authorities and Tribes Given Additional Flexibility to Focus on Tenants During Pandemic
Waiver authority gives localities and Tribes control in dealing with COVID-19 in Communities The U.S. Department of Housing and Urban Development (HUD) today is granting Public Housing Authorities (PHA), Indian Tribes, and Tribally Designated Housing Entities (TDHEs) waiver authorities and ultimate flexibilities so agency staff can focus on assisting their tenants and properties during the…
HUD: $200 Million in COVID-19 Relief Funding Available to Help Native American Communities Across the Nation
Recovery funding will help American Indian Communities respond to COVID-19 U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced $200 million in Indian Housing Block Grants (IHBG) to American Indian Tribes and Tribally Designated Housing Entities (TDHEs) across the country to respond to COVID-19. This funding will be used to help…
FHFA: Evaluation Criteria Strengthened for Duty To Serve Program
The Federal Housing Finance Agency (FHFA) today announced it is strengthening the evaluation criteria of the Duty to Serve (DTS) Underserved Markets program through the Evaluation Guidance for Fannie Mae and Freddie Mac (the Enterprises). The updated guidance will ensure the Enterprises’ DTS programs have a significant impact in underserved communities. See the updated Evaluation…
HUD: Additional $1.1 Million Announced to Public Housing Authorities to Assist Young People Aging Out of Foster Care
Funding supports youth aging out of foster care to avoid homelessness Today, U.S. Housing and Urban Development (HUD) Secretary Ben Carson announced an additional $1.1 million in funding for HUD’s new Foster Youth to Independence (FYI) Initiative. Ten housing authorities will receive this funding, continuing HUD’s efforts to assist young adults transitioning out of foster care…