Texas getting $5 billion from HUD for hurricane recovery

AUSTIN (Strategic Partnerships) – The United States Department of Housing and Urban Development (HUD) has approved $5 billion through its Community Development Block Grant-Disaster Recovery Program to support long-term recovery efforts in Texas due to Hurricane Harvey.

The largest share of the funding, $2.3 billion, goes to the City of Houston and Harris County to address their recovery needs. Both city and county officials must submit those plans to state officials for approval.

The Single-Family Homeowner Assistance Program is being allotted $1.1 billion to help homeowners rehabilitate and rebuild homes damaged during Hurricane Harvey.

Around $413 million supports infrastructure repairs and enhancements for local communities as part of a comprehensive long-term recovery program along with Federal Emergency Management Agency funding.

HUD officials approved $275 million to allow certain eligible homeowners to sell their damaged home to a local government and $251 million to pay for the state program costs, including contract administration, compliance monitoring, the provision of technical assistance to applicants, and other activities.

​Another award includes $250 million for the Affordable Rental program to rehabilitate, rebuild, or build new affordable multifamily rental properties.

Original posting and all articles re-posted by Qualle Investments are copyrighted & credited strictly and solely to the original writers and contributors RECON, Texas A&M Real Estate Center Online News.