3,100 Public Housing Authorities Meet Critical Recovery Act Deadline, Create Nearly 9,000 Jobs and Rehab 150,000 Homes for Low-Income Families

.  HUD is currently determining the redistribution process for the funding returned.  The 172 ‘troubled’ housing authorities that received funding all met the deadline as well, with only two troubled agencies returning all or a portion of their funds by March 17th.

HUD’s Capital Fund Program provides annual funding to public housing authorities to develop, finance, and/or modernize the public housing in their communities. This funding can be used to make large-scale improvements such as new roofs and for the replacement of plumbing and electrical systems to increase energy efficiency. 

The Recovery Act included $13.61 billion for projects and programs administered by HUD, nearly 75 percent of which was allocated to state and local recipients only eight days after President Obama signed the Act into law, including public housing capital funding. The remaining 25 percent is being awarded through competitive grant programs. To date, 98 percent of HUD’s Recovery Act funds are in the hands of local communities, being used to improve housing and neighborhoods, while creating jobs.  HUD is committed to implementing Recovery Act investments swiftly and effectively as they generate tens of thousands of jobs, modernize homes to make them energy efficient, and help the families and communities hardest hit by the economic crisis.

To learn more about the story of the Recovery Act, visit www.WhiteHouse.gov/Recovery.  To follow Recovery Act dollars as they are put to work, visit www.Recovery.gov.