May 3, 2023

HUD: $382 Million Allocated to Help States Produce Affordable Housing

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  4. HUD: $382 Million Allocated to Help States Produce Affordable Housing

Housing Trust Fund Allocations will increase and preserve the supply of decent, safe, and sanitary affordable housing for extremely low- and very low-income households

Today, the U.S. Department of Housing and Urban Development (HUD) allocated $382 million through the nation’s Housing Trust Fund (see list of state allocations below). The Housing Trust Fund (HTF) is an affordable housing production program that complements existing Federal, state and local efforts to increase and preserve the supply of decent, safe, and sanitary affordable housing for extremely low- and very low-income households, including families experiencing homelessness.

“We’re proud to invest in states to create more affordable housing,” said HUD Secretary Marcia L. Fudge. “The Biden-Harris Administration is committed to improving the nation’s housing affordability crisis and the Housing Trust Fund provides communities resources they need to produce more safe, sustainable and affordable housing.”

HTF is a formula-based program for States and U.S. Territories. By law, each state is allocated a minimum of $3 million. State affordable housing planners will use these funds for the following eligible activities:

The Housing Trust Fund is being capitalized through contributions made by Fannie Mae and Freddie Mac. In December 2014, the Federal Housing Finance Agency (FHFA) directed these Government Sponsored Enterprises (GSEs) to begin setting aside and allocating funds to the Housing Trust Fund. The Housing Trust Fund helps to strengthen and broaden the Federal housing safety net for people in need by increasing production of, and access to, affordable housing for the nation’s most vulnerable populations. One hundred percent of funds must be used for extremely low-income families. This targeting ensures the priority of this program is helping those with the greatest needs.
 

FY 2023 Housing Trust Fund Formula Allocations
NameSTFY23 GA
State of AlabamaAL$3,468,012
State of AlaskaAK$3,066,413
State of ArizonaAZ$6,176,374
State of ArkansasAR$3,000,537
State of CaliforniaCA$62,249,056
State of ColoradoCO$5,587,889
State of ConnecticutCT$4,510,425
State of DelawareDE$3,066,413
District of ColumbiaDC$3,066,413
State of FloridaFL$18,860,873
State of GeorgiaGA$9,289,520
State of HawaiiHI$3,066,413
State of IdahoID$3,066,413
State of IllinoisIL$14,528,244
State of IndianaIN$5,391,554
State of IowaIA$3,066,414
State of KansasKS$3,066,414
Commonwealth of KentuckyKY$3,515,069
State of LouisianaLA$4,515,321
State of MaineME$3,066,413
State of MarylandMD$5,428,249
Commonwealth of MassachusettsMA$8,664,498
State of MichiganMI$8,567,551
State of MinnesotaMN$4,881,843
State of MississippiMS$3,000,537
State of MissouriMO$5,346,518
State of MontanaMT$3,066,413
State of NebraskaNE$3,066,413
State of NevadaNV$3,992,365
State of New HampshireNH$3,066,413
State of New JerseyNJ$12,237,784
State of New MexicoNM$3,066,413
State of New YorkNY$34,734,755
State of North CarolinaNC$9,349,939
State of North DakotaND$3,066,413
State of OhioOH$10,420,277
State of OklahomaOK$3,066,414
State of OregonOR$5,468,942
Commonwealth of PennsylvaniaPA$12,081,840
State of Rhode IslandRI$3,066,413
State of South CarolinaSC$4,254,878
State of South DakotaSD$3,000,537
State of TennesseeTN$5,290,023
State of TexasTX$22,394,219
State of UtahUT$3,066,413
State of VermontVT$3,066,413
Commonwealth of VirginiaVA$7,563,732
State of WashingtonWA$8,377,580
State of West VirginiaWV$3,066,413
State of WisconsinWI$5,527,246
State of WyomingWY$3,066,413
GuamGU$157,107
Northern Mariana IslandsMP$76,533
Commonwealth of Puerto RicoPR$2,037,322
Virgin IslandsVI$152,727
This post was originally published here.
Investments & Funding