City of Chicago awarded $98 Million in Second Round of NSP

On January 14, 2010, HUD awarded a total $1.93 billion in NSP 2 grants to 56 grantees nationwide. The City of Chicago received $98 million to rehabilitate and reuse 1,331 housing units, demolish 182 blighted, residential structures, and construct 27 homes on demolished sites. The City plans to use NSP2 funds and an additional $1,045,944 in other funds to create high-quality, energy efficient, affordable housing for individuals and families whose household incomes are at or below 120 percent of the area median income. Read the press release>

ULI Terwilliger Center Annual Forum

The ULI Terwilliger Center for Workforce Housing convened their annual forum on February 9th and 10th in New York City. Featuring speakers from across sectors, including former HUD Secretaries Cisneros and Preston and Adolfo Carrion, the Director for the White House Office of Urban Affairs, the forum explored tools for financing workforce developments in the current economic environment, application of federal resources including NSP, and legislative best-practices for workforce housing around the county. For more information>

HUD Announces New Rental Assistance Initiative

HUD has recently announced its new Transforming Rental Assistance Initiative (TRA) which will impact the preservation of affordable rental housing by streamlining program operations and lowering administrative costs. The development of this cross-cutting effort has been a model of HUD openness and transparency. TRA will preserve public and assisted housing, enhance housing choice for residents, and increase administrative efficiency at all levels of program operations. For public and assisted housing owners, participation in the initiative will be voluntary and will involve conversion to an improved form of property-based rental assistance under section 8(o)(13) of the U.S. Housing Act of 1937. Read the Congressional Budget Justification> and View the Webcast>