HUD Allocates $1 Billion in ARRA Funds to 1,200 State and Local Governments

Washington, May 6 – The Department of Housing and Urban Development announced today the allocation of $1 billion in Recovery Act grant funds to nearly 1,200 state and local governments to support job growth and community development.

The money will be distributed to state and local agencies via HUD’s Community Development Block Grant Program to create affordable housing and job opportunities for low- to moderate-income residents. The money will be distributed based on the existing formula HUD uses to awards CDBG funds and only state and local governments that applied for and received CDBG money in fiscal year 2008 are eligible to receive CDBG recovery funding.