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HUD STUDY FINDS $26 BILLION NEEDED FOR PUBLIC HOUSING REPAIRS

Monday, June 27, 2011 - 1:30AM

As much as $25.6 billion could be required to address the capital needs of the nation’s 1.2 million public housing units, according to a study released last week by the U.S. Department of Housing and Urban Development (HUD). The study, “Capital Needs in the Public Housing Program,” is an update of a 1998 analysis that addresses the costs of accessibility improvements, water and energy conservation, and overdue repairs that would improve basic living conditions at public housing properties. HUD said the study includes the first extensive look at the estimated cost of energy and water conservation projects. HUD programs such as Choice Neighborhoods Initiative and the Rental Assistance Demonstration were introduced to address the capital needs backlog, which is growing by $3.4 billion each year, the agency said.

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