Sunday, April 11, 2010

Hardest Hit TARP Funding Comparison: Oregon Getting 37% MORE than ALL Oregon FY 2010 CDBG, HOME, ESG, and HOPWA Funding.

Later this week I hope to do a post about the public disclosure I see in the first round of Hardest Hit funded states whose plans are due to the Treasury by COB on April 16th. I will also post a preview of what state plans are required to contain, and what therefore should be available for public comment, prior to submission to Treasury (with Oregon's expected submission date to Treasury near the end of May).

In my view this disclosure is important not only because of the importance of the intended use, not only because it is TARP money, but also because the level of funding is quite extraordinary.

I have said before that the Hardest Hit funding for Oregon is the largest housing grant in Oregon history. To provide even more perspective I thought it would be useful to compare Hardest Hit funding in ALL states to the level of funding that ALL grantees (including entitlement communities) within those states will receive this year for the four main HUD Community Development programs where funding is allocated by formula:
  1. Community Development Block Grant
  2. HOME
  3. Emergency Shelter Grants
  4. Housing for Persons with Aids
Some Observations from the Table I Put Together HERE:
  • The $2.1 billion in Hardest Hit funding being received by these 10 states is $112+ million more (6% more) than the total FY 2010 grants received in these states for these four HUD grant programs.
  • Oregon does even better. Oregon's Hardest Hit funding is 37% MORE than the total HUD FY 2010 funding in Oregon for these 4 grant programs. ($88 million/$64.3 million-1). Oregon will receive $23.6 MORE in Hardest Hit funding than all grantees in Oregon will receive from these 4 HUD grant programs ($88 million - $64.3 million).
  • Somebody really likes Nevada and South Carolina. They are getting 185% and 103% more in Hardest Hit funding than their total HUD grants for these 4 programs.

Originally created and posted on the Oregon Housing Blog

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