Today, the Administration released its Fiscal Year 2011 Budget Proposal. According to the proposed budget, the U.S. Department of Housing and Urban Development (HUD) would receive $48.5 billion in funding for core HUD programs, as well as new initiatives. As part of developing the President’s Budget, HUD, along with all other departments, identified high-priority performance goals. These priority areas include providing assistance to homeowners at-risk of losing their homes due to foreclosure, reducing homelessness among veterans, further meeting the growing need for affordable rental homes, and enabling more cost-effective energy upgrades.
Key FY 2011 Budget Proposals:
- Provides $150 million for Sustainable Communities Grants;
- Requests $250 million for the Choice Neighborhoods Initiative;
- Requests $350 million to fund the first phase of a multi-year initiative to regionalize the Housing Choice Voucher program and convert public housing to project-based vouchers;
- Requests $19.6 billion for the Housing Choice Voucher program;
- Provides $9.4 billion for the Project-Based Rental Assistance program;
- Continues funding for all existing mainstream vouchers and provides flexibility to support new vouchers including $85 million in special purpose vouchers for the homeless and those at-risk of becoming homeless, and persons with disabilities;
- Requests $2.1 billion for HUD’s Homeless Assistance Programs to effectively implement the HEARTH Act. Also supports the key priorities reflected in HEARTH, including $200 million for Emergency Solutions Grant funding.
- Requests $88 million to support homeownership and foreclosure prevention through Housing Counseling and $20 million to combat mortgage fraud;
- Programs that receive increases: the budget has $19.6 billion for tenant-based Section 8 assistance and $9.4 billion for project-based Section 8, up from $18.2 billion and $8.6 billion in fiscal 2010; $2.1 billion for homeless assistance, up from $1.9 billion; and $4.82 billion for the public housing operating fund, up from $4.78 billion. Community development block grant funding would remain flat, at $3.990 million; and
- Programs facing cuts include the public housing capital fund, with $2 billion, down from $2.5 billion; Indian housing block grants, $580 million, down from $700 million; HOME, $1.65 billion, down from $1.8 billion; Section 202, $274 million, down from $825 million; and Section 811, $90 million, down from $300 million.
For more information, please read the HUD Budget Fact Sheet.