Meanwhile, back at the pass, the FY 2010 budget was introduced today. They are kinda slow with the release of full details , but the "overview" sales pitch has been released and can be found HERE. HUD Section is on pages 73-75; Highlights
- Provides full funding for the Community Development Block Grant program at $4.5 billion. In addition, the Budget reforms the program’s formula to better target economically distressed communities. The program will also stimulate innovations in metropolitan sustainability, university partnerships, and rural housing and economic development.
- Provides $1 billion to capitalize and launch an Affordable Housing Trust Fund that will develop, rehabilitate, and preserve affordable housing targeted to very-low income households. The Fund will help to prevent homelessness and strengthen families.
- Increases funding for the Housing Choice Voucher program, which likewise makes housing affordable to very low-income households. The Department of Housing and Urban Development will also introduce legislative reforms to address the program’s costly inefficiencies.
- Enables the Department to preserve approximately 1.3 million affordable rental units through increased funding for the Department’s assisted multifamily properties.
- Combats mortgage fraud and predatory loans. The Budget funds enhanced enforcement of fairhousing, mortgage disclosure, and settlement requirements.
- Creates a new Energy Innovation Fund to catalyze private sector investment in the energy
- efficiency of the Nation’s housing stock.
- Creates a new Choice Neighborhoods Initiative to make a range of transformative investments in high-poverty neighborhoods where public and assisted housing is concentrated.
- Eliminates funding for ineffective and duplicative programs, including the Section 108 Community Development Loan Guarantees program and the American Dream Downpayment Initiative.
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