New National Summary Reports: How Recovery Act Working for Cities and Rural Areas.

Two national summary reports, no state or local data.

HUD cities report is HERE. HUD PR HERE provides best summary.

USDA rural report is HERE; second page of USDA report provides concise listing of national accomplishments.

Originally created and posted on the Oregon Housing Blog.

Treasury Says Housing Programs Represent 90% of Projected TARP Cost.

In advance of a regular monthly statutorily required report on TARP progress the US Treasury published a PR piece detailing their positive spin on TARP. That report is HERE.

Without drinking all of the Kool-Aid, I think it IS fair to say that total TARP costs WILL be far, far below the $700 Billion initial TARP authorization.

On PDF page 8 of their report the Administration says the total projected TARP cost is $51 billion. Treasury says that $46 billion of that cost will be for housing programs including MHA programs like HAMP; the HFA Hardest Hit fund; and the FHA Short Sales program.

That means that Treasury is currently projecting that housing programs will represent 90% of the TOTAL TARP COST, a projection that will come as a surprise to most. 

Note also that housing costs for HUD NSP, Emergency Assistance, Recovery Act housing programs, homeowners tax credits AND the GSE bailout are NOT included in the $46 billion projected TARP housing costs.

Originally created and posted on the Oregon Housing Blog.

Oregon HUD Recovery Act Spending and FTE Jobs by City, With Error Noted.

Follow up to prior national post on HUD Recovery Act jobs by state. Table below shows Oregon HUD Recovery Act awards, expenditures, FTE jobs by Oregon city:

Area	Awarded	Received	Expended	Expended/ Awarded %	FTE Jobs
Total	$ 88,443,163	$ 15,230,453	$ 15,936,370	18%	127.1
Ashland	$ 55,622	$ -	$ -	0%	0.0
Beaverton	$ 164,057	$ 23,508	$ 23,508	14%	0.2
Bend	$ 224,770	$ 113,880	$ 113,880	51%	0.8
Burns	$ 101,455	$ 87,729	$ 87,729	86%	0.0
Chiloquin	$ 389,187	$ -	$ -	0%	0.0
Coos Bay	$ 660,912	$ 92,437	$ 92,437	14%	6.0
Corvallis	$ 145,487	$ 110,408	$ 138,316	95%	1.1
Dallas	$ 778,062	$ 413,614	$ 413,614	53%	1.7
Eugene	$ 2,548,757	$ 312,105	$ 313,117	12%	5.0
Fairview	$ 81,318	$ 81,181	$ 81,181	100%	0.0
Grand Ronde	$ 1,693,209	$ 109,948	$ 31,530	2%	0.6
Gresham	$ 236,604	$ 45,968	$ 45,968	19%	1.0
Hermiston	$ 231,843	$ 156,911	$ 156,911	68%	0.8
Hillsboro	$ 2,353,581	$ 436,445	$ 436,445	19%	2.4
Jefferson	$ 108,932	$ 108,932	$ 108,932	100%	23.0
Junction City	$ 145,400	$ -	$ -	0%	0.0
Klamath Falls	$ 177,116	$ 166,991	$ 141,243	80%	2.1
La Grande	$ 279,261	$ 216,887	$ 276,621	99%	0.2
McMinnville	$ 158,502	$ 2,000	$ -	0%	0.0
Medford	$ 361,502	$ 101,431	$ 105,022	29%	0.0
Newport	$ 269,994	$ 216,651	$ 216,651	80%	0.0
North Bend	$ 2,362,519	$ 560,370	$ 560,370	24%	11.0
Ontario	$ 206,710	$ 120,559	$ 53,704	26%	0.0
Oregon City	$ 3,829,856	$ 504,711	$ 555,780	15%	10.2
Pendleton	$ 557,092	$ 166,994	$ -	0%
Portland	$ 16,632,177	$ 3,179,674	$ 4,044,882	24%	11.0
Roseburg	$ 637,490	$ 335,405	$ 335,405	53%	2.5
Salem	$ 47,857,171	$ 7,473,396	$ 7,475,311	16%	38.2
Siletz	$ 4,403,998	$ 30,319	$ 30,319	1%	5.0
Springfield	$ 164,302	$ 62,000	$ 96,738	59%	1.2
Warm Springs	$ 626,277	$ -	$ 756	0%	3.0

Error Noted:
Note that these are figures reported by recipients and subject to data entry and interpretation errors. For example, NO way that $100k 8 unit public housing project rehab in Jefferson (by Marion County PHA) produced 23 FTE jobs.

Originally created and posted on the Oregon Housing Blog.

Quick Calculation of HUD Recovery Act Spending/Jobs by State, Including Oregon HUD Spending and Jobs Created.

I have started to look at some of the Recovery Act jobs reporting for the period ending March 31st. Pasted below is my summary of HUD funded Recovery Act jobs by state, including all funding types.

Data shows that nationally recipients have reported spending 15% of HUD Recovery Act funds awarded , creating or saving 20,788 FTE (full time equivalent) jobs.

Oregon total is 18% ($15.9 M) of $88.4 Million in HUD Recovery Act funds spent through March 31, creating or saving 127 FTE jobs

Area	Awarded	Received	Expended	Expended/ Awarded %	Jobs
Total	$ 11,441,161,740	$ 1,934,835,463	$ 1,713,121,573	15%	20,728
AK	$ 92,311,724	$ 55,402,078	$ 31,304,005	34%	191
AL	$ 198,173,259	$ 46,589,136	$ 43,073,279	22%	529
AR	$ 93,122,372	$ 23,972,191	$ 23,058,533	25%	363
AZ	$ 362,682,726	$ 25,788,958	$ 26,040,548	7%	241
CA	$ 1,176,167,193	$ 91,989,280	$ 91,918,561	8%	1,383
CO	$ 134,981,828	$ 18,974,989	$ 17,092,801	13%	159
CT	$ 138,655,745	$ 14,225,672	$ 12,855,689	9%	199
DC	$ 116,201,235	$ 9,221,733	$ 7,221,710	6%	86
DE	$ 42,507,610	$ 8,076,473	$ 7,767,069	18%	33
FL	$ 563,413,246	$ 53,360,054	$ 47,576,691	8%	817
GA	$ 253,479,135	$ 47,665,353	$ 48,388,217	19%	1,258
GU	$ 6,057,242	$ 3,382,700	$ 3,248,287	54%	40
HI	$ 46,580,045	$ 3,475,265	$ 4,057,020	9%	75
IA	$ 62,507,368	$ 13,527,497	$ 13,307,540	21%	171
ID	$ 22,006,244	$ 8,434,233	$ 7,417,073	34%	44
IL	$ 663,544,959	$ 226,251,597	$ 127,991,783	19%	896
IN	$ 169,491,296	$ 31,776,001	$ 30,453,837	18%	328
KS	$ 66,958,994	$ 18,216,478	$ 15,156,624	23%	140
KY	$ 124,382,040	$ 44,486,422	$ 37,802,693	30%	312
LA	$ 199,834,290	$ 31,937,649	$ 18,964,344	9%	878
MA	$ 429,520,576	$ 54,222,015	$ 48,900,463	11%	678
MD	$ 211,002,671	$ 26,772,864	$ 23,777,008	11%	319
ME	$ 41,203,232	$ 9,823,470	$ 8,933,325	22%	101
MI	$ 505,015,293	$ 35,720,568	$ 38,504,130	8%	415
MN	$ 235,195,106	$ 47,531,934	$ 47,661,314	20%	446
MO	$ 155,900,374	$ 38,652,220	$ 36,594,013	23%	379
MP	$ 1,963,884	$ 138,792	$ 138,792	7%	1
MS	$ 108,238,561	$ 15,201,254	$ 14,773,321	14%	229
MT	$ 37,903,435	$ 14,332,091	$ 13,256,417	35%	149
NC	$ 257,165,720	$ 39,317,180	$ 39,201,465	15%	469
ND	$ 24,758,439	$ 5,281,875	$ 5,376,091	22%	44
NE	$ 41,096,384	$ 8,100,881	$ 8,464,141	21%	139
NH	$ 25,370,440	$ 6,521,178	$ 6,467,206	25%	59
NJ	$ 327,344,565	$ 55,978,333	$ 47,362,142	14%	620
NM	$ 70,091,224	$ 11,617,514	$ 8,721,674	12%	266
NV	$ 77,617,828	$ 9,308,422	$ 7,541,461	10%	114
NY	$ 1,069,399,323	$ 159,722,068	$ 185,255,550	17%	1,405
OH	$ 523,501,692	$ 53,274,076	$ 52,800,545	10%	672
OK	$ 157,908,885	$ 56,491,585	$ 30,739,934	19%	336
OR	$ 88,443,163	$ 15,230,453	$ 15,936,370	18%	127
PA	$ 578,156,776	$ 108,368,512	$ 103,575,322	18%	1,023
PR	$ 121,310,422	$ 8,861,401	$ 6,940,131	6%	213
RI	$ 55,246,216	$ 13,153,577	$ 11,448,389	21%	40
SC	$ 108,514,510	$ 30,408,131	$ 26,954,963	25%	294
SD	$ 35,294,130	$ 9,103,872	$ 8,886,253	25%	154
TN	$ 227,782,109	$ 47,389,810	$ 47,722,450	21%	393
TX	$ 493,159,917	$ 78,438,348	$ 78,881,897	16%	1,569
UT	$ 37,009,508	$ 10,019,997	$ 10,134,283	27%	147
VA	$ 170,645,687	$ 36,837,297	$ 34,498,377	20%	372
VI	$ 21,418,208	$ 5,853,036	$ 5,500,376	26%	9
VT	$ 17,623,304	$ 3,789,548	$ 3,697,207	21%	42
WA	$ 232,463,571	$ 56,286,099	$ 37,106,655	16%	380
WI	$ 181,155,586	$ 38,962,540	$ 37,272,923	21%	283
WV	$ 51,219,784	$ 14,662,829	$ 12,708,442	25%	113
WY	$ 12,506,882	$ 3,989,322	$ 3,993,570	32%	41
(blank)	$ 174,579,333	$ 28,698,666	$ 28,698,666	16%	544
OTHER (PLEASE SPECIF	$ 1,376,451	$ 19,943	$ -	0%	2

I have not cross checked my analysis with others, but since I used Recovery Act downloaded data, I am pretty confident that is is accurate and includes ALL HUD Recovery Act funding types and programs, as reported by recipients.

Originally created and posted on the Oregon Housing Blog.