News and Updates
Summary of the Housing Provisions in Recovery Conference Agreement: Congress Agrees to Stimulus Compromise; Votes on Friday
Some details of the House and Senate conference agreement on the economic stimulus bill were released this afternoon.
Appropriations for HUD programs in the conference agreement are as follows:
$4 billion for the Public Housing Capital Fund (House and Senate had both passed $5 billion in their versions).
$2.25 billion for 12-month renewals of the project-based Section 8 rental assistance program, with $250 million of this going toward energy retrofitting and green housing (had been $2.5 billion in the House bill, $2.25 billion in the Senate package).
$2 billion for the Neighborhood Stabilization Program to redevelop foreclosed and abandoned homes ($4.19 billion in the House, $0 in the Senate).
$1.5 billion for homeless prevention through the Emergency Shelter Grant program (the same as in the House and Senate-passed versions).
$2.25 billion to fund HOME, with $2 billion of this to fill gaps in approved Low Income Housing Tax Credit projects and jump start these stalled projects ($1.5 billion was in the House bill just for HOME, without the LIHTC provision; $2.25 billion was in the Senate bill, with
$2 billion for LIHTC gap fix).
$1 billion for the Community Development Block Grant program (House had $1 billion; Senate had no CDBG funds).
$100 million for lead paint reduction (same in both the House and Senate bills).
$10 million in Native American Block Grants (had been $500 million in the House; $510 million in the Senate).
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