HUD press release

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HUDs press release No. 23-094 HUD AWARDS OVER
22 MILLION TO ENHANCE ACCESS TO AFFORDABLE
HOUSING AND HOMEOWNERSHIP You can find more
information on your local housing authorities by
following the link https//housingauthoritynearme
.com/ WASHINGTON - The U.S. Department of
Housing and Urban Development (HUD) has recently
allocated more than 22 million in grants to
expand affordable housing opportunities. This
includes 12.5 million in Self-Help Homeownership
Opportunity (SHOP) Grants and 10 million in
Rural Capacity Building Grants. The 12.5
million SHOP Grants will support non-profit,
self-help housing organizations dedicated to
assisting hard-working, low-income families and
individuals in achieving homeownership. Through
the SHOP program, these grants, combined with the
labor contributed by homebuyers and volunteers,
will substantially reduce the overall cost of
owning a home. In addition, HUD has awarded 10
million in Rural Capacity Building (RCB) grants.
The RCB program aims to strengthen the
capabilities of rural housing development
organizations, Community Development Corporations
(CDCs), Community Housing Development
Organizations (CHDOs), rural local governments,
and Indian tribes to carry out affordable
housing and community development initiatives in
rural areas. These efforts will benefit low- and
moderate-income families and individuals. HUD
Secretary Marcia L. Fudge emphasized the
importance of these grants, stating, "Today, we
are investing in homeownership and expanding
access to affordable housing in rural
communities. The SHOP program provides a unique
pathway for first-time homeowners and
underserved groups to purchase a home. At HUD, we
are committed to supporting rural America, and
these capacity building grants demonstrate our
dedication." Organizations that receive RCB and
SHOP funding collaborate with local beneficiaries
and affiliates to increase access to affordable
homes throughout the country. HUD Deputy
Secretary Adrianne Todman announced the grants in
Russellville, Arkansas, where she joined a
future SHOP homeowner and a local organization
that benefited from Rural Capacity Building
grants to make affordable housing a
reality. Deputy Secretary Adrianne Todman
emphasized the Biden-Harris Administration's
commitment to providing quality affordable
housing options for rural communities. She
stated, "Through these grants, HUD and our
partners will construct and renovate homes and
develop housing solutions that cater to the
unique needs of rural neighborhoods." The SHOP
program, initiated in 1996, offers federal grants
on a competitive basis to national and regional
non-profit organizations and consortia
experienced in
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administering self-help homeownership housing
programs. These grants must be utilized to
acquire land and undertake necessary
infrastructure improvements, with an average
SHOP investment of 15,000 per dwelling unit.
Leveraged funds are allocated for the
construction or rehabilitation of these
homeownership units. Many SHOP homebuyers are
first-time homeowners from underserved
groups. Since its inception, the SHOP program
has provided over 396 million in federal grants,
which, combined with substantial leveraged funds
and countless volunteer hours, have transformed
lives and neighborhoods by producing more than
28,500 units of affordable homeownership
housing. Homebuyers contribute significant sweat
equity to their units' development or to other
participating homebuyers in local self-help
housing programs. These sweat equity
contributions reduce the purchase price of SHOP
units, making them affordable for low- income
homebuyers. A minimum of 100 sweat equity hours
is required from a household of two or more
individuals, while a minimum of 50 sweat equity
hours is required from a household of one
person. Additionally, community participation
involving volunteer labor is necessary. Sweat
equity and volunteer labor encompass various
tasks, such as landscaping, foundation work,
painting, carpentry, trim work, drywall
installation, roofing, and siding for the
housing. Reasonable accommodations must be
provided for individuals with disabilities.