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Hud Announces $3.3 Million To The U.S. Virgin Islands for Housing and Economic Opportunity


U.S. Capitol (Shutterstock image)
U.S. Capitol (Shutterstock image)

The U.S. Department of Housing and Urban Development announced $3,377,000 in grants to the U. S. Virgin Islands Monday. They are earmarked for community planning and development activities, ranging from the development of affordable housing to expanding economic opportunity for people with low and moderate incomes, according to a release from HUD.

Monday’s grant is part of $6.3 billion to U.S. states, local entities of government, and U.S. territories through HUD’s Fiscal Year 2022 Community Planning and Development Formula Grant Program.

“These grants make a real difference in our communities,” said HUD Southeast Regional Administrator Jose Alvarez in the HUD release. ‘Whether it’s building new homes, stimulating business activity or securing stable housing for the most vulnerable, this funding plays a vital role to local communities and to the people who live there.”

The funding awarded to the U.S. Virgin Islands includes:

– $1.8 million for the Community Development Block Grant Program. CDBG provides annual grants on a formula basis to states, cities, and counties to develop viable urban communities by providing decent housing and a suitable living environment, and by expanding economic opportunities, principally for low- and moderate-income persons.
– $1 million for the HOME Investment Partnerships Program. HOME provides funding to states and localities that communities use – often in partnership with local nonprofit groups – to fund a wide range of activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership or providing direct rental assistance to low-income people.
– $394,529 to the Housing Trust Fund. The Housing Trust Fund provides funding to produce affordable housing units.
–$164,825 to the Emergency Solutions Grants. These provide funds for homeless shelters, assist in the operation of local shelters and funds related social service and homeless prevention programs.

 

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