LISC Receives $17 Million HUD Section 4 Award to Strengthen Community Development Groups Across the Country
HUD has awarded its latest round of Section 4 funds, including $17 million for LISC, the largest of this year's grants. LISC will use its funds to help build the capacity of local community development groups to address financial stability, leadership and governance, technical and digital infrastructure, and partnership networks.
The excerpt below was originally posted by the U.S. Department of Housing and Urban Development:
HUD AWARDS $41 MILLION TO BOOST LOCAL AFFORDABLE HOUSING AND COMMUNITY DEVELOPMENT
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) announced today that it will make available $41 million for local affordable housing and community development activities that benefit people with low-incomes. The funding is being awarded through HUD’s Capacity Building for Affordable Housing and Community Development program, also known as Section 4.
“President Biden’s top priority is lowering costs for the American people, and at HUD, we are working to increase the supply of affordable housing to ease the burden of housing costs,” said HUD Secretary Marcia L. Fudge. “With the funds, communities can scale up their efforts to provide safe, affordable homes for their residents and meet their community development needs.”
The Section 4 program enhances the capacity and ability of housing development organizations like Community Development Corporations (CDCs) and Community Housing Development Organizations (CHDOs), to carry out affordable housing and community development activities for the benefit of low- and moderate-income families and persons.
Three national organizations, Enterprise Community Partners, Local Initiatives Support Corporation (LISC), and Habitat for Humanity International, will receive the funds, which are expected to spur nearly $122 million in total investments with the help of 3:1 matching grants.