The U.S. Department of Housing and Urban Development announced that it will offer nearly $1.8 billion to public housing authorities nationwide, allowing agencies to make large-scale improvements to public housing units.
The funds also can be used to make energy-efficient upgrades to replace old plumbing and electrical systems, according to HUD.
“This funding will help housing authorities address long-standing capital improvements, but it only scratches the surface in addressing the deep backlog we’re seeing across the country,” said Hud’s Shaun Donovan. “Today, we are closer to helping housing authorities and our private sector partners undertake their capital needs over the long haul.”
Have you followed this program since it started as a solution to the housing problems? In 2007, 70% of the nations jobs were related to the housing related. Have the Fed’s programs/ideas since then, provided economic recovery? Is this just another “Smoke Screen”? Please provide your comments on how or if this may help your region?