(Archived Content)
TG-459
To Date, 50 State Housing Authorities Receive Funds Under 1602 Program WASHINGTON – As part of the Obama Administration's effort to strengthen communities and ease pressures on the housing market, the U.S. Department of the Treasury today announced that the American Recovery and Reinvestment Act (Recovery Act) has now provided more than $4 billion in funding to spur the development of affordable housing around the country. To date, 50 state and territorial housing authorities have received payments in lieu of tax credits to stimulate the construction and completion of affordable housing projects, including awards in this round made to Arizona, Delaware, Georgia, Hawaii, Indiana, Michigan, Minnesota, New Mexico, Ohio, Pennsylvania, and Utah with Texas being a first time recipient. The Recovery Act has created innovative partnerships between federal and state governments to provide a much needed boost to local economies, said Treasury Deputy Secretary Neal Wolin. By uniting with state housing authorities, Treasury has made available more than $4 billion to jump start housing development in communities around the country. That investment has already resulted in hundreds of new construction jobs and new housing units for families in need of affordable alternatives. In May 2009, the Treasury Department launched an innovative program under section 1602 of the Recovery Act to provide payments in lieu of tax credits to state housing agencies to jump start the development or renovation of qualified affordable housing for families across the country. Upon receiving notice of these allocations, state housing authorities manage a competitive process to disburse funds to qualified developers. This is an ongoing program open to additional state applications. The following is a complete list of funds awarded to states under the program. Awards appearing in italics designate states receiving funds in the latest round of awards.
Housing Agency | Amount Awarded |
Alabama Housing Finance Authority | $36,456,058 |
Alaska Housing Finance Corporation | $14,346,267 |
Arizona Department of Housing | $34,375,088 |
Arkansas Development Finance Authority | $29,170,283 |
California Tax Credit Allocation Committee | $283,796,725 |
Colorado Housing and Finance Authority | $17,823,862 |
Connecticut Housing Finance Authority | $55,674,397 |
Delaware State Housing Authority | $20,550,433 |
DC Department Housing & Community Development | $33,770,695 |
Florida Housing Finance Corporation | $580,096,634 |
Georgia Housing and Finance Authority | $195,559,945 |
Hawaii Housing Finance and Development Corporation | $41,129,690 |
Idaho Housing and Finance Association | $25,414,641 |
Illinois Housing Development Authority | $53,395,657 |
IN Housing and Community Development Authority | $235,961,875 |
Iowa Finance Authority | $72,772,712 |
Kansas Housing Resources Corporation | $45,311,378 |
Kentucky Housing Corporation | $20,603,594 |
Louisiana Housing Finance Agency | $114,065,141 |
Maine State Housing Authority | $14,413,347 |
MD Community Development Administration | $79,212,812 |
MA Department of Housing & Community Development | $106,035,450 |
Michigan State Housing Development Authority | $285,935,362 |
Minnesota Housing Finance Agency | $58,663,115 |
Missouri Housing Development Commission | $17,000,000 |
Montana Board of Housing | $17,825,674 |
Nebraska Investment Finance Authority | $3,676,241 |
Nevada Housing Division | $46,700,055 |
New Hampshire Housing Finance Authority | $27,713,062 |
New Jersey Housing and Mortgage Finance Agency | $74,412,967 |
New Mexico Mortgage Finance Authority | $47,777,169 |
North Carolina Housing Finance Agency | $95,000,000 |
North Dakota Housing Finance Agency | $3,668,685 |
Ohio Housing Finance Agency | $54,007,515 |
Oklahoma Housing Finance Agency | $25,000,000 |
Oregon Housing and Community Services | $13,316,286 |
Pennsylvania Housing Finance Agency | $130,456,285 |
Puerto Rico Housing Finance Authority | $158,920,948 |
Rhode Island Housing and Mortgage Finance Agency | $36,891,061 |
SC State Housing Finance & Development Authority | $118,019,355 |
South Dakota Housing Development Authority | $7,756,896 |
Tennessee Housing Development Agency | $53,035,205 |
Texas Department of Housing and Community Affairs | $333,226,792 |
Utah Housing Corporation | $4,844,474 |
Vermont Housing Finance Agency | $11,701,366 |
Virgin Islands Housing Finance Authority | $20,246,499 |
Virginia Housing Development Authority | $112,488,313 |
Washington State Housing Finance Commission | $57,377,373 |
West Virginia Housing Development Fund | $25,165,944 |
Wisconsin Housing & Economic Development Authority | $139,572,351 |
Total | $4,090,335,677 |
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