Affordable Housing and Tax Credit Developments NationallyThe U.S. Department of Housing and Urban Development (HUD) Awards Over $28 Million For Rural Communities

August 26, 2011by George Danneman

The U.S. Department of Housing and Urban Development (HUD) awarded 46 rural and tribal communities more than $28 million through the Rural Innovation Fund to address distressed housing conditions and concentrated poverty.  HUD received a total of 307 applications, requesting more than $236 million from the Rural Innovation Fund.

Funding is proposed to create a total of 789 housing units to low income beneficiaries and 655 jobs, which include 178 construction jobs and 460 permanent jobs.

Grants were awarded according to three categories:

  • Comprehensive Grants: 7 grants awarded;  proposals that address the social, housing and economic needs and resources of the target areas.
  • Single Purpose Grants: 31 grants awarded; proposals that focus primarily on either housing or economic development of the target area.
  • Economic Development and Entrepreneurship for Federally Recognized Tribes: 8 grants awarded.

For a list of grant summaries, click here.

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