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HUD ANNOUNCES FINAL ROUND OF APPROVAL UNDER TCAP

Tuesday, July 28, 2009 - 8:00AM

U.S. Housing and Urban Development Secretary Shaun Donovan today announced that HUD is approving the final round of plans submitted by state housing finance agencies. The funding in this second round totals more than $1 billion to jumpstart affordable housing programs in 26 states throughout the country that are currently stalled due to the economic recession. This brings the total amount of funding now at work under the Tax Credit Assistance Program (TCAP) to $2.25 billion in all 50 states, the District of Columbia and the Commonwealth of Puerto Rico. Under this second round of TCAP funds, 26 state housing finance agencies are receiving awards today; the first 26 grants under this program were announced on June 30.

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