6:16 PM
Julio Barreto
President Barack Obama signed legislation which provides funding for federal housing and community development programs for FY 2010. The act includes funding for programs administered by the Department of Housing and Urban Development (HUD) and the Community Development Financial Institutions Fund (CDFI).The bill provides funding for the following HUD programs:1. The public housing operating fund receives $4.8 billion which is a seven percent increase above the FY2009 figure. HUD officials claim this provides local housing authorities with enough funding to cover 100 percent of the cost to operate public housing units. The housing authorities’ Washington representatives disagree believing the allocation is still $450 million short of what is needed to administer public housing.2. The...
