Friday, March 6, 2009

Federal Stimulus Provides Significant Affordable Housing Resources
to Fairfax County
Public Housing Modernization, CDBG, Homelessness Receive Direct Allocations

The American Reinvestment and Recovery Act of 2009 includes a number of affordable housing-related provisions which will both directly provide funding to Fairfax County and provide opportunities for the county to compete for significant additional resources.  The U.S. Department of Housing and Urban Development (HUD) reports that Fairfax County will receive the following direct affordable housing stimulus allocations:

• Public Housing:  $2,294,177 for the renovation and modernization of the county’s Public Housing properties.
• Community Development:  $1,610,504 from the Community Development Block Grant (CDBG) program for eligible purposes, including the renovation of existing affordable housing properties. 
• Homelessness:  $2,462,398 for homelessness prevention, shelter and utility payments.

Fairfax County also expects to compete for other stimulus funds set aside for purposes such as:

• Affordable housing financing via tax credits and the HOME Investment Partnership Program;
• “Green” energy retrofits for certain federally financed affordable housing
• Weatherization; and
• Foreclosure response via the Neighborhood Stabilization Program.

Information from HUD on the American Reinvestment and Recovery Act can be found at http://www.hud.gov/recovery/.