Funding Level: TBD
Overview: $1 billion will be awarded to PHAs through a national competitive grant process for investments that leverage private sector funding or financing for housing renovations and energy conservation retrofit investments. To provide funds for the capital and management activities of Public Housing Agencies as authorized under section 9 of the United States Housing Act of 1937 (42 U.S.C. 1437g) (the "Act"), with the exception that funds cannot be used for operations or rental assistance. The funds shall be awarded by competition for priority investments, including investments that leverage private sector funding or financing for renovations and energy conservation. Funds shall be obligated through competitive funding by September 30, 2009. Public housing authorities shall give priority to capital projects that can award contracts based on bids within 120 days from the date the funds are made available to the public housing authorities. Public housing agencies shall prioritize capital projects that are already underway or included in the 5-year capital fund plans required by the Act (42 U.S.C. 1437c-1(a)). Funds provided under this heading shall serve to supplement and not supplant expenditures from other Federal, State, or local sources or funds independently generated by the grantees. Notwithstanding section 9(j), public housing agencies shall obligate 100 percent of the funds within 1 year of the date on which funds become available to the agency for obligation, shall expend at least 60 percent of funds within 2 years of the date on which funds become available to the agency for obligation, and shall expend 100 percent of the funds within 3 years of such date.
For More Information:
http://flarecovery.com/about/state-and-local-projects/other-aid/public-housing-capital-funds
http://www.hud.gov/recovery/phcapfundh.cfm
Federal Contact: Department of Housing and Urban Development
State Contact: Florida Office of Economic Recovery