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HUD PROPOSES ALLOCATION FORMULA FOR HOUSING TRUST FUND

Thursday, January 28, 2010 - 8:45AM

The U.S. Department of Housing and Urban Development (HUD) today proposed a formula for allocating funds from the Housing Trust Fund established by the Housing and Economic Recovery Act of 2008 (HERA). The purpose of the Housing Trust Fund is to provide grants to states to increase and preserve the supply of rental housing for extremely low- and very low-income families, including homeless families, and to increase homeownership for extremely low- and very low-income families. HERA charged HUD with establishing the formula for the distribution of the Housing Trust Fund to states. The statute specifies that only certain factors are to be part of the formula, and assigns priority to certain factors. Comments will be accepted through February 2, 2010.

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