HUD Awards $1.9 Billion for Public Housing Repairs
HUD Awards $1.9 Billion for Public Housing Repairs
HUD Awards $1.9 Billion for Public Housing Repairs
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July 13, 2011 (Shirley Allen)

The Secretary of the U.S. Department of Housing and Urban Development (HUD), Shaun Donavan, announced more than $1.9 billion in funds to public housing authorities in 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands.

As part of HUD’s Capital Fund Program, which provides annual funding to public housing authorities, the funds may be used to repair, renovate, and/or modernize public housing with such improvements as new roofs and energy-efficient upgrades to replace old plumbing and electrical systems.

The funding comes on the heels of a recent report released by HUD that estimates that nearly $26 billion was needed to address large scale repair and renovation costs in the nation’s public housing stock.

“While this funding will certainly help housing authorities address long-standing capital improvements, it only scratches the surface in addressing the deep backlog we’re seeing across the country,” said Donovan. “Housing Authorities need nearly $26 billion to keep these homes safe and decent for families, but given our budget realities, we must find other, innovative ways to confront the decline of our public housing stock.”

The study is an update to a previous report from 1998 which had been prepared to address the costs of overdue repairs and improvements at that time.

The new study also found that the total capital needs estimate was approximately $23,365 per unit and that with normal use and aging, each year the units accrue an additional $3,144 per unit in needed repairs and replacements.

The Recovery and Reinvestment Act of 2009 provided $4 billion to help renovate and develop nearly 380,000 units, but the need for a solution to preserve the housing stock remains great.

Tags: HUD, public housing, capital needs, large scale improvements

Source:
HUD

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Todays Mortgage
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July 13, 2011 (Shirley Allen)

The Secretary of the U.S. Department of Housing and Urban Development (HUD), Shaun Donavan, announced more than $1.9 billion in funds to public housing authorities in 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands.

As part of HUD’s Capital Fund Program, which provides annual funding to public housing authorities, the funds may be used to repair, renovate, and/or modernize public housing with such improvements as new roofs and energy-efficient upgrades to replace old plumbing and electrical systems.

The funding comes on the heels of a recent report released by HUD that estimates that nearly $26 billion was needed to address large scale repair and renovation costs in the nation’s public housing stock.

“While this funding will certainly help housing authorities address long-standing capital improvements, it only scratches the surface in addressing the deep backlog we’re seeing across the country,” said Donovan. “Housing Authorities need nearly $26 billion to keep these homes safe and decent for families, but given our budget realities, we must find other, innovative ways to confront the decline of our public housing stock.”

The study is an update to a previous report from 1998 which had been prepared to address the costs of overdue repairs and improvements at that time.

The new study also found that the total capital needs estimate was approximately $23,365 per unit and that with normal use and aging, each year the units accrue an additional $3,144 per unit in needed repairs and replacements.

The Recovery and Reinvestment Act of 2009 provided $4 billion to help renovate and develop nearly 380,000 units, but the need for a solution to preserve the housing stock remains great.

Tags: HUD, public housing, capital needs, large scale improvements

Source:
HUD

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

July 13, 2011 (Shirley Allen)

The Secretary of the U.S. Department of Housing and Urban Development (HUD), Shaun Donavan, announced more than $1.9 billion in funds to public housing authorities in 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands.

As part of HUD’s Capital Fund Program, which provides annual funding to public housing authorities, the funds may be used to repair, renovate, and/or modernize public housing with such improvements as new roofs and energy-efficient upgrades to replace old plumbing and electrical systems.

The funding comes on the heels of a recent report released by HUD that estimates that nearly $26 billion was needed to address large scale repair and renovation costs in the nation’s public housing stock.

“While this funding will certainly help housing authorities address long-standing capital improvements, it only scratches the surface in addressing the deep backlog we’re seeing across the country,” said Donovan. “Housing Authorities need nearly $26 billion to keep these homes safe and decent for families, but given our budget realities, we must find other, innovative ways to confront the decline of our public housing stock.”

The study is an update to a previous report from 1998 which had been prepared to address the costs of overdue repairs and improvements at that time.

The new study also found that the total capital needs estimate was approximately $23,365 per unit and that with normal use and aging, each year the units accrue an additional $3,144 per unit in needed repairs and replacements.

The Recovery and Reinvestment Act of 2009 provided $4 billion to help renovate and develop nearly 380,000 units, but the need for a solution to preserve the housing stock remains great.

Tags: HUD, public housing, capital needs, large scale improvements

Source:
HUD

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.