Public Housing Capital Fund
Funding
- Total: $1 billion
- Existing FY2008 Formula ($3 billion)
- Competitively awarded ($1 billion)
Deadlines
- Funds allocated by formula must be allocated by HUD within 30 days of enactment
- Funds allocated by competition must be allocated by HUD by September 30, 2009
- Funds must be obligated within 1 year from housing agency receipt
- 60% of the funds must be spent with 2 years from housing agency receipt
- 100% of the funds must be spent with 3 years from housing agency receipt
- Funds not obligated or spent by appropriate deadlines are recaptured and reallocated
Additional Information
- Priority given to projects that can award contracts in 120 days
- Priority given to projects already underway or included in the 5-year capital funds plans
- Priority given to projects that rehabilitate vacant rental units