Federal housing grant doubles in size

Thanks to a coronavirus pandemic-fueled mortgage boom, states will get nearly $700 million in federal grants from a special program for low-income housing, more than double the amount distributed last year.

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April 6, 2021 - 8:00 AM

WASHINGTON (AP) — Thanks to a coronavirus pandemic-fueled mortgage boom, states will get nearly $700 million in federal grants from a special program for low-income housing, more than double the amount distributed last year.

It’s a boost that the Department of Housing and Urban Development says should produce a tangible leap forward in government low-income housing plans across the country. 

The Housing Trust Fund, administered by the department, will disburse the money to state governments for the construction, maintenance and restoration of low-income housing. This year’s allotment is $689,565,492 — more than double the $322,564,267 disbursed the previous year, HUD said in a statement.

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