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Bedford Housing Authority To Receive $174K From HUD
Updated February 14, 2016 7:21 PM
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(BEDFORD) - U.S. Department of Housing and Urban Development is allocating nearly $23 million to public housing authorities in Indiana to make needed capital improvements in their properties.

Bedford Housing Authority will receive $174,850.

The grants, announced Friday, are provided through HUD's Capital Fund Program, which offers annual funding to approximately 3,100 public housing authorities across the country to build, repair, renovate and/or modernize the public housing in their communities. These housing authorities use the funding to complete large-scale improvements such as replacing roofs or making energy-efficient upgrades to replace old plumbing and electrical systems.

"HUD is committed to preserving much needed affordable housing stock across the nation," indicated HUD Midwest Regional Administrator Antonio R. Riley. "This funding will help facilitate extensive improvements to public housing in Indiana required to maintain it decent, safe, sanitary and in good repair."

According to a press release, for more than 75 years, the federal government has been investing billions of dollars in developing and maintaining public housing - including providing critical support through the Capital Fund grants announced today. Nonetheless, there has been a net loss of over 135,000 public housing units since fiscal year 2000, representing an average loss of approximately 9,000 units annually.

In 2011, HUD released Capital Needs in the Public Housing Program, a third-party independent study that estimated the capital needs in the public housing stock in the U.S. The study found the nation's 1.1 million public housing units are facing an estimated $25.6 billion in large-scale repairs. Unlike routine maintenance, capital needs are extensive improvements required to make the housing decent and economically sustainable, such as replacing roofs or updating plumbing and electrical systems to increase energy efficiency.

Since Congress authorized the RAD demonstration in November of 2011, early results show it is generating significant additional capital for public and assisted housing. HUD has made awards to 60,000 public and assisted housing units in more than 340 different projects across the country. Through these awards, housing authorities have proposed to generate approximately $3 billion in capital repairs by leveraging private debt and equity, which will preserve or replace distressed units and support local jobs in their communities - all without additional federal resources.



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