The U.S. Department of Housing and Urban Development (HUD) today announced the allocation of nearly $400 million to all states and territories through the Housing Trust Fund (HTF)  to complement federal, state and local efforts to increase the supply of housing for extremely low-income and very-low-income households. Of this year’s $382 million, California will receive $62.2 million and New  York will receive $34.7 million. The small-state minimum is just over $3 million. The funds can be used for a variety of purposes, including property acquisition, site improvements and development hard costs and relocation assistance.

Stay informed on the latest in community development and more with a subscription to the Novogradac Journal of Tax Credits.