Tuesday, September 4, 2012

Government Grants within the US Housing Sector

By Iola Bonggay


The United States Government gives great importance to the safety and welfare of its people. It recognizes the unqualified need for safe, cost-effective, and quality housing opportunities which may be accessible to all residents of the US, may it be the wealthy, or the low to moderate-income individuals.

The government has established quite a slew of agencies that are especially engineered to administer housing programs and help the needs of home purchasers, renters, and property developers.

The U. S. Department of Housing and Urban Development, otherwise referred to as HUD, is the government's leading agency for supporting and aiding all housing-related concerns.

The mission of the HUD is to "create powerful, sustainable, inclusive communities and quality affordable homes for all; strengthen the housing market to bolster the economy and protect consumers; meet the requirement for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination."

The HUD offers numerous programs and grants that are especially designed to impact the way buyers and property developers do business. Some of the most outstanding programs of the HUD are the Community Development Block Grants (CDBG), the HOME Programme, Shelter Plus Care, Emergency Shelter Grants (ESG), Section 8 Moderate Rehabilitation Single Room Occupancy program, and THE Housing Opportunities for Persons with AIDS Program.

HUD also offers grants, just like the Project Rental Assistance Demonstration Program, which was especially established to provide project-based rental assistance funds to State housing agencies and identify, stimulate, and support sustaining cutting edge state approaches which will seriously change the provision of housing for people with incapacities while providing access to suitable support and services.

In the meantime, the Rural Housing Preservation Grants, attempts to assist extremely low- and low-income homeowners in correcting and rehabilitating their houses in rural areas, as well as to assist rental property owners and co-operative housing complexes in correcting and rehabilitating their units if they agree to make such units available and accessible to low- and extremely low-income people.

The Department of Housing and Urban Development is the mother agency in the Executive branch of the US federal government. Hence it can not completely function and operate state-wide, which is practically the reason why each state has established their own housing agency and authority.

New York has the State of New York Mortgage Agency. California has California Housing Finance Agency, while Washington has Washington State Housing Finance Commission.

All of these agencies offer programmes which are tailored to the needs of their residents รข€"- may they be first time homebuyers, renters, or real estate developers.




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