Friday, January 15, 2010

Los Angeles Housing Department Awarded $100 Million in Recovery Act finding

The U.S. Department of Housing and Urban Development (HUD) has announced that the Los Angeles Housing Department was awarded $100 million in Recovery Act funding.

The second round of neighborhood revitalization grants is being competitively awarded to applicants who show the most innovative ideas to rebuild local communities. Grant recipients must also demonstrate that they can responsibly handle taxpayer dollars.

Funds from HUD's Neighborhood Stabilization Program will rehabilitate foreclosed or abandoned homes in Los Angeles while making them affordable for working class families.