States Around the Region to Receive Millions in Funds for Affordable Housing

 

States around the region receive millions from the U.S. Department of Housing and Urban Development for affordable housing. HUD apportioned the funding following amounts:

Missouri – $10,536,095 Illinois – $30,702,615 Kentucky – $6,716,410

In all, HDU awarded almost $700 million nationwide. The Housing Trust Fund was started in 2008 as an affordable housing production program. The program focuses specifically on housing for populations that are the most venerable. A state is required to utilize at least 80 percent of each yearly grant or rental housing; up to 10 percent for homeownership; and up to 10 percent for the grantee’s reasonable administrative and planning expenses. The funding can be put towards the preservation and production of affordable housing through the acquisition, new construction, reconstruction and/or rehabilitation of non-luxury housing with acceptable utilities.

 

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