HUD
Community Housing Grants
Date:
July 1, 2008
Who:
HUD
Policy Area:
Sector Policy (Non-Financial)
Economic Target:
Housing
Action Type:
Direct Spending
Maximum Amount:
$3.92 billion
Amount Spent:
$0.92 billion
Deficit Impact:
$3.87 billion Grants for redevelopment of abandoned and foreclosed homes in high-foreclosure neighborhoods.
This measure was part of the Housing and Economic Recovery Act of 2008, along with an increase in the low-income housing tax credit, creation of the HOPE for Homeowners Program, and creation of the first-time homebuyer tax credit.
Notes:
Amount spent indicates estimated outlays in 2009, deficit impact indicates ten year estimate, and maximum amount indicates estimated budget authority (http://www.cbo.gov/ftpdocs/95xx/doc9597/hr3221.pdf).
