May 17, 2022 – HUD Announces $10.3 Billion in Grants for Housing and Community Development Activities Across U.S
The U.S. Department of Housing and Urban Development (HUD) today announced $10.3 billion in Fiscal Year 2022 formula grants to communities across the United States for housing and community development activities ranging from affordable housing development to public housing modernization to economic opportunities for people with low and moderate incomes.
The funding includes:
- Community Development Block Grant (CDBG) – $3.3 billion. CDBG grants are provided to cities, including Bridgeport, CT, to develop viable urban communities by providing decent housing and a suitable living environment, and by expanding economic opportunities, principally for low- and moderate-income persons. BNT received a $30,000 CDBG grant administered by Bridgeport in June 2022.
- HOME Investment Partnerships (HOME) – $1.5 billion. The HOME Investment Partnerships Program (HOME) provides funding to states and localities that communities use – often in partnership with local nonprofit groups – to fund a wide range of activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership or providing direct rental assistance to low-income people. BNT is currently applying for HOME funding as part of its South End Commons Development Project.
Please click on the following link to read the entire press release.