House Releases Preliminary FY12 HUD Budget

Submitted by Garrett ODwyer on Thu, 2011-09-15 11:30

The House has released its preliminary numbers for the FY12 HUD budget. Click here to see it:

Some program highlights:

*While overall allocation remains the same, due to set-aside elimination the amount allocated to CDBG formula grants

has increased by 5% from FY 2011.

PACDC Fact

PACDC’s activities have culminated in $180 million to date in new resources for affordable housing and neighborhood economic development.
The Philadelphia Housing Trust Fund has raised nearly $80 million since September 2005 to expand housing opportunities for more than 6,000 Philadelphia families.
The CDC Tax Credit Program has fostered 35 partnerships between businesses and non-profits that is providing $60 million in new funding for CDC neighborhood economic development.
PACDC’s Member Services programming builds capacity of CDCs through technical assistance and training, sharing of best practices, networking, and promotion of the local CDC industry.
The local CDC industry generated $3.3 billion in economic impact in Philadelphia during the past 20 years.

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