Posted To: MND NewsWire

The Department of Housing and Urban Development (HUD) has announced how it will be allocating its initial portion of funds from the massive Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress last week. Over $3 billion will be awarded through the Department’s Community Development Block Grant, Emergency Solutions Grant, and Housing Opportunities for Persons with AIDS programs. HUD Secretary Ben Carson said use of the existing grant formulas will allow funds to be awarded quickly. They will be accompanied by new guidance that cuts red tape so grantees can quickly help their communities. Two billion of the funds will go to states, communities, and non-profit organizations for the following: Construction of medical facilities for testing and treatment. Acquisition of…(read more)

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Source: Mortgage News Daily