PHILADELPHIA, PA - The Philadelphia Housing Authority will receive $90.5 million from the federal stimulus package to make capital improvements, U.S. Rep. Robert A. Brady, D-Phila., announced Wednesday.
"This Recovery Act funding will help PHA get a handle on the backlog of previously underfunded capital improvement projects," Brady said of the funding, which he called critical. "PHA is the biggest landlord in Pennsylvania. And for more than a decade PHA has had to do more with less for its 84,000 residents who are the most vulnerable in the city. Federal budget cutting has made it very difficult to serve a population that includes families with children, senior citizens and people with disabilities."
The funding is part of nearly $3 billion from the American Recovery and Reinvestment Act that the U.S. Department of Housing and Urban Development agency has put on the fast track for spending by public housing authorities.
"President Obama has given us the mandate to put this money to work quickly so it can make a real difference in the lives of Americans," HUD Secretary Shaun Donovan said. "HUD is working overtime to get this money to our housing authorities so they can repair and produce critically needed affordable housing, create jobs, and improve the quality of life for their residents."
The stimulus funding, which is being provided through HUD's Public Housing Capital Fund Program, more than doubles the department's annual support of local housing authorities to improve public housing stock. The program's funding can be used to develop, finance and/or modernize public housing; make large-scale improvements, such as new roofs; and to make plumbing and electrical systems more energy-efficient.
HUD will also soon be making an additional $1 billion in capital funding available to housing authorities, which will be awarded through a competition.
Source: Philadelphia Business Journal