PACDC’s activities have culminated in more than $140 million in new resources for affordable housing and neighborhood economic development efforts.
Congress Approves Cuts to Housing Programs in FY 2011 Budget; Works toward FY 2012
The U.S. Congress passed, and the President signed, a Continuing Resolution on April 15th that will fund the government for the remainder of Fiscal Year 2011, which runs through September 30, 2011. Funding for several federal housing programs were cut substantially (although in some cases less than initially proposed). Below is how key HUD programs were affected compared to FY 2010 funding levels:
HUD Program FY 2011 Enacted (Figures in Millions) %Difference to FY 2010 Enacted
CDBG $3, 336.3 -16%
HOME $1,606.8 -12%
Section 811 $149.7 -50%
Section 202 $399.2 -52%
Housing Counseling $0 -100%
A full list of HUD program funding levels and budget comparisons can be found at: www.nlihc.org/doc/FY10_11_12_Budget_Chart_Comparisons.pdf
Congress is currently working towards enacting a FY 2012 budget with the House proposals so far showing additional deep cuts to the Transportation and Housing (THUD) suballocation. The House proposal would slash 36.2% from the President’s FY2012 Request and represent and additional 12.9% cut from the enacted FY2011 budget.
Congressman Bob Brady has released a “Dear Colleague” letter in support of CDBG funding and it is important that stakeholders contact their legislators to urge them to sign on. PACDC commends Congressman and will continue to work with our coalition partners to educate legislators and advocate against any additional cuts to crucial programs supporting families and communities across the country.
PACDC Fact
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The Philadelphia Housing Trust Fund has raised more than $67 million in revenue since September 2005 to expand housing opportunities for Philadelphia families.
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The CDC Tax Credit Program has fostered 30 partnerships between businesses and CDCs that is providing $30 million in new funding to support neighborhood economic development.
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PACDC’s Member Services programming builds the capacity of CDCs through technical assistance and training, the sharing of ideas, best practices, and promotion of the local CDC industry.
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