$50 Million in Affordable Housing and Community Development Grants Awarded

ThernDepartment of Housing and Urban Development has announced $50 million in capacity building grants to three national groups that support affordablernhousing and community development.  </p

Therngrants, which require a three-to-one private/public partnership, were awardedrnto LocalrnInitiatives Support Corporation (LISC); Enterprise Community Partners, Inc.;rnand Habitat for Humanity International. <bThese organizations will distribute the funds to 250 communities acrossrnthe U.S.  The monies are expected to ultimatelyrnresult in construction, renovation, or preservation of approximately 8,000rnhousing units and to provide 1,000 training opportunities.   </p

The grants were awarded under HUD’s Section 4rnCapacity Building for Community Development and Affordable Housing Program and, fast-tracked by HUD staff, werernannounced only 33 days after the application deadline compared to 124 days inrn2010.  Because the program requires arnminimum three-to-one private/public match, today’s grants will stimulate nearlyrn$150 million in investments nationwide, and more than $1 billion in totalrndevelopment costs channeled to low- and moderate-income families. </p

The Capacity Building for Community Development programrn grants funds for intermediaries to develop the capacity of nonprofit community development corporations (CDCs) to use to attract private investment for housing, economic development, and other community revitalization activities. By statute, there are five eligible grantees — Living Cities, Inc./National Community Development Initiative, Local Initiatives Support Corporation, Enterprise Community Partners, Inc., Habitat for Humanity, and YouthBuild USA. The program is competitive. The purpose of the capacity building program is to enhance the technicalrn and administrative capabilities of community development corporations (CDCs) and community housing development organizations (CHDOs) to carry out community development and affordable housing activities. </p

Mercedes  Mãrquez,rnHUD’s Assistant Secretary for Community Planning and Development said “Thesernfunds act as ‘multipliers. By helping to build the capacity of localrncommunity-based housing and development organizations, we’re able to at leastrntriple the impact of taxpayer dollars at the local level and, in today’s fiscalrnenvironment, that’s not just good government, that’s intelligent government.” </p

Since 2008, these grants have constructed,rnrenovated or preserved nearly 31,000 homes; provided 2,325 trainingrnopportunities for CDCs or CHDOs; and stimulated $5.4 billion in totalrndevelopment activity. 

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