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Jack Peters, Director Office of Community Planning and Development 206-220-5268 Jack.Peters@hud.gov

HUD PERSPECTIVES FOR TACOMA-PIERCE COUNTY AFFORDABLE HOUSING CONSORTIUM. Jack Peters, Director Office of Community Planning and Development 206-220-5268 Jack.Peters@hud.gov. EMERGING HUD THEMES. 1. Promoting Energy Efficiency & Creating Green Jobs Public Housing Capital Fund ($4.0 billion)

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Jack Peters, Director Office of Community Planning and Development 206-220-5268 Jack.Peters@hud.gov

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  1. HUD PERSPECTIVES FOR TACOMA-PIERCE COUNTY AFFORDABLE HOUSING CONSORTIUM Jack Peters, DirectorOffice of Community Planning and Development206-220-5268Jack.Peters@hud.gov

  2. EMERGING HUD THEMES 1. Promoting Energy Efficiency & Creating Green Jobs • Public Housing Capital Fund ($4.0 billion) • Native American Housing Block Grants ($510 million) • Assisted Housing Energy & Green Retrofit program ($250 million) • Lead Hazard Reduction/Healthy Homes ($100 million) 2. Unlocking the Credit Markets & Supporting “Shovel-Ready” Projects • Tax Credit Assistance Program ($2.25 billion) • Project Based Rental Assistance ($2.0 billion) 3. Mitigating the Effects of Foreclosures & Preventing Community Decline • Neighborhood Stabilization Program (NSP 2 - $2 billion) • Homelessness Prevention & Rapid Re-Housing (HPRP - $1.5 billion) • Community Development Block Grant (CDBG-R - $1.0 billion)

  3. 2009 Omnibus Budget • Formula: • CDBG • HOME • ESG • HOPWA • Competitive: • C of C • BEDI • RHED • Veterans Demonstration Program

  4. Consolidated Plan Communities

  5. Additional Funding Mechanisms • Section 108 Loan Guarantee • Brownfields Economic Development Initiative (BEDI) • CDBG Float Loans

  6. Housing and Economic Recovery Act (HERA) July, 2008 • Neighborhood Stabilization Program (NSP) • $2 billion • States, local governments and non-profits • Combat the effects of home foreclosures • Targeted to areas of greatest need

  7. NSP in Washington

  8. Neighborhood Stabilization Program (NSP) Washington State: $28,159,293 Washington State Department of Community, Trade and Economic Development billm@cted.wa.gov Pierce County $4,692,761 Seattle Snohomish County Spokane Spokane County Sunnyside Tacoma $3,083,548 Toppenish Vancouver Walla Walla Wapato Yakima Yelm • Aberdeen • Centralia • Clark County • Everett • Federal Way • Hoquiam • Kelso • Kent • King County • Kitsap County • Lacey • Lakewood $626,793 • Moses Lake • Pasco

  9. American Recovery and Reinvestment Act of 2009

  10. HUD Implementation of the Recovery Act • $13.61 billion for HUD projects and programs

  11. Community Development Block Grant -Recovery (CDBG-R) • $1 billion allocated by formula to FY2008 entitlements and states only • $16 million total in WA • Priority on economic development, infrastructure, and housing that will result in economic investment, increase energy efficiency, and create or retain jobs • Deadlines for substantial amendments are June 5 for entitlements and June 29 for state • All activities will be posted on HUD website • All funds must be expended by Sept. 30, 2012

  12. CDBG-R • Tacoma – $772,715 • Pierce County - $800,889 • Lakewood - $172,544

  13. CDBG-R Priorities • Preserving and creating jobs and promoting economic recovery • Assisting those persons most impacted by the recession • Providing investment needed to increase economic efficiency • Investing in transportation, environmental protection, or other infrastructure that will provide long-term economic benefits, • Minimizing or avoiding reductions in essential services, or • Fostering energy independence

  14. CDBG-R Issues • Davis-Bacon Thresholds • Higher Davis Bacon Wage Rates • Recreation/Parks - Prudent Policy

  15. Homelessness Prevention and Rapid Re-Housing Program (HPRP) • $1.5 billion nationwide • $24.4 million in WA (based on ESG formula) • Provides temporary financial assistance and/or services as a bridge to long-term housing stability • Level of funding equals HUD’s entire annual homeless budget and adds targeted and essential resources • Transformative change – re-orients homeless planning efforts; focus on housing stability • http://hudhre.info/HPRP

  16. HPRP Grantees

  17. Tax Credit Assistance Program • $2.25 billion nationwide • Allocation based on HOME formula • $43 million awarded to Washington State Housing Finance Commission • Accelerate the production and preservation of affordable housing • All funds must be expended by Feb. 2012

  18. Organizational Capacity • Fact based assessment of needs • Clear strategies to address the needs with the activities being assisted • Involve citizens – “Transparency” • Ensure coordination • Assessment and performance measurement (accountability and oversight) • Financial capacity • Internal controls • Mix funding sources • Bridge the gap between project development and project management

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