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| Tuesday, June 09, 2009 |
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FOR IMMEDIATE RELEASE
June 9, 2009
HHA APPLIES FOR CAPITAL FUND RECOVERY COMPETITION GRANT
HUNTSVILLE – The Huntsville Housing Authority (HHA) announced today during a special board meeting that it will apply for a Capital Fund Recovery Competition grant. These grants are designed to help public housing authorities significantly improve the quality of their housing stock, promote energy efficiency, and create jobs. There are four categories of grant opportunities:
1. Improvements Addressing the Needs of Elderly and/or Persons with Disabilities
2. Public Housing Transformation
3. Gap Financing for Projects that are Stalled Due to Financing Issues
4. Creation of Energy Efficient, Green Communities
On February 17, 2009, the President signed the American Recovery and Reinvestment Act of 2009 (“the Recovery Act”). This legislation includes a $4 billion appropriation of Capital Fund for public housing agencies (PHAs) to carry out capital and management activities, as authorized under section 9 of the United States Housing Act of 1937 (“the 1937 Act”). The Recovery Act requires that $3 billion of these funds be distributed as formula funds and the remaining $1 billion be distributed through a competitive process. HUD obligated approximately $2.985 million in formula funds to Public Housing Agencies (PHAs) on March 18, 2009.
If successful for competitive funding, HHA will use the funds in the following ways:
• Public Housing Transformation
1. Demolishment of entire Searcy Homes site and creation of a 78 unit mixed income/ mixed use community that includes some kind of retail. HHA will partner with Joe Fuqua for the development of the new affordable housing community.
2. Demolishment of Todd Towers with a strategic partnership with Derek Thornton of Thornton Properties to offer mixed income homes with approximately 70% owned by Thornton Properties and 30% owned by HHA. The Huntsville Housing Authority will partner with Bill Peters Architects for the development project.
• Improvements Addressing the Needs of Elderly and/or Persons with Disabilities
1. Safety improvements to Johnson Towers including elevators, windows, new HVAC, emergency call centers, etc.
• Gap Financing for Projects that are Stalled Due to Financing Issues
1. Funds will be used towards HHA’s Gateway Place – its 86 unit state-of-the-art affordable senior housing facility to be located on Gallatin in downtown Huntsville. The Huntsville Housing Authority is working with Architect Frank Nola on this particular project.
Following board approval, HHA has from June 22 to July 6, to submit for the grant application. For more information contact Paige Rucker at 256.541.7857.
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View The Huntsville Times' article here. |
