HUD reports record performance in FY06

HUD’s Home Investment Partnerships Program posted record performance during fiscal year 2006 with substantial increases in the number of families assisted and affordable homes produced. HUD’s Home program is the largest federal block grant to state and local governments. It is designed exclusively to produce affordable housing for low-income families.

In 2006, 143,196 households benefited from hundreds of local programs that the Home program supports, a 42 percent increase compared to the previous year. President Bush’s fiscal year 2007 budget seeks an additional $159 million for the Home program to build on this year’s record production.

“Behind these numbers are families struggling to find a home they can afford,” said HUD Secretary Alphonso Jackson in a news release. “No matter how you add it up, the Home program is making a huge difference in the lives of people, particularly in high-cost areas where finding an affordable home can be a challenge.”

HUD’s Office of Affordable Housing reports that during fiscal year 2006, 120,071 affordable homes were either constructed or renovated through the Home program, compared to 80,751 in 2005. In addition, 23,325 families received tenant-based rental assistance last year, a 13 percent increase compared to the previous year. HUD also reports substantial increases in the number of families able to purchase their first homes through Home and its sister program, The American Dream Downpayment Initiative.

HUD attributes some of the increase in affordable housing production to its efforts to boost performance measurements and encourage participating jurisdictions to report their results more accurately. HUD issues monthly production reports and quarterly Home program performance snapshots that compare the performances of participating jurisdictions and assign rankings.

“This isn’t just about better reporting,” Jackson said. “In a very real way, HUD’s Home program is accelerating the pace of affordable housing production across this country.”

Affordable Housing Growth

Activity 2005 2006 % Increase

Homes built/rehabilitated 80,751 120,071 49

No. of families receiving rental assistance 20,554 23,325 13

Total 101,305 143,396 13 percent[[In-content Ad]]