HUD Announces $10 Million Funding Opportunity for Community Revitalization Efforts
Industry Update
April 9, 2024
Source: U.S. Department of Housing and Urban Development
Acting Secretary of the U.S. Department of Housing and Urban Development (HUD) Adrianne Todman announced a new notice of funding opportunity through the FY24 Choice Neighborhoods Planning Grant that will provide $10 million to support local planning efforts to revitalize communities. She made this announcement while addressing stakeholders at the annual National Association of Housing and Redevelopment Officials conference.
“These resources support the creation and preservation of housing, and enhances community amenities, like grocery stores and parks,” said Acting Secretary Todman. “Paired with meaningful community engagement and thoughtful planning, this funding opportunity will help leaders and neighbors improve quality of life and attract the partners and resources that communities deserve.”
Choice Neighborhoods Planning Grants support the development of comprehensive neighborhood revitalization plans which focuses on directing resources to address three core goals: Housing, People and Neighborhoods. To achieve these goals, communities must develop and implement a comprehensive neighborhood revitalization strategy, or Transformation Plan. The Transformation Plan will then become the guiding document for the revitalization of the public and/or assisted housing units while simultaneously directing the transformation of the surrounding neighborhood and positive outcomes for families.
“Choice Neighborhoods Planning Grants lead to real results for public housing communities,” said Richard Monocchio, Principal Deputy Assistant Secretary for Public and Indian Housing. “Planning Grants are a great first step to bringing partners and significant resources to distressed communities – and they better position communities to pursue the funding necessary to bring a community’s vision to life.”
Approximately 20 communities will be selected for Planning Grant funding, continuing the expansion of HUD’s Choice Neighborhoods program. These grants may provide funding to communities of all sizes, including small towns, mid-sized cities, large urban areas, and tribal communities. Planning Grantees will receive additional points and priority in future Implementation Grant applications. Choice Neighborhoods Implementation Grants provide up to $50 million to implement the community Transformation Plan.
For full report, please click the source link above.