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| Overview |
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Whether it is public housing, providing tax credits for homebuyers, or offering loan programs for rural communities, the Recovery Act is designed to both create jobs and improve our communities.
A few examples of housing funding include:
- $38.5 million in low-income weatherization assistance to help create greater energy efficiency in homes and help an underserved community.
- $27.3 million in Tax Credit Exchange Program funds to jumpstart stalled housing and development projects.
- $14.9 million in Homelessness Prevention funds provides financial assistance and services to prevent people and families from becoming homeless and help those who are experiencing homelessness to be quickly re-housed and stabilized.
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| Projects |
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Homelessness Prevention - The purpose of the Homelessness Prevention and Rapid Re-Housing Program (HPRP) is to provide homelessness prevention assistance to households who would otherwise become homeless—many due to the economic crisis—and to provide assistance to rapidly re-house persons who are homeless. This existing program received additional Recovery Act funds from the U.S. Department of Housing and Urban Development.
Neighborhood Stabilization - Oregon was awarded $6.8 million in competitive Neighborhood Stabilization Program funds to address home foreclosure and abandonment. Funds will be used to purchase and rehabilitate homes and residential properties that have been abandoned or foreclosed upon.
Tax Credit Assistance - Administered by the U.S. Housing and Urban Development Department, Recovery Act dollars for the Tax Credit Assistance Program provides additional funds to agencies that allocate federal low-income housing tax credits. The funds are provided to assist Low Income Housing Tax Credit projects and fill financing gaps caused by the collapse of the tax credit market. The program is intended to jumpstart stalled housing development projects.
Tax Credit Exchange - The Tax Credit Exchange Program allows the Oregon Housing and Community Services (OHCS) Department the option of turning in unused and returned 2008 Low-Income Tax Credits for grant funds. The program, administered by the U.S. Department of Housing and Urban Development, also allows OHCS to turn in up to 40 percent of the 2009 Low-Income Housing Tax Credits as well. The funds are provided to fill financing gaps caused by the collapse of the tax credit market to jumpstart stalled housing and development projects.
Weatherization - The U.S Department of Energy-Recovery Act Weatherization Assistance Program is designed to reduce energy costs for eligible low-income clients by making their home more energy efficient and to preserve affordable housing. The program focuses on assisting the elderly, disabled, and low-income families with young children.
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| Project Categories |
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To learn more about projects near you, take a look at our Tracking the Dollars map to select specific projects or select one of the categories below to learn more about the types of projects funded. Projects can be divided specifically by the following categories:
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