WASHINGTON, D.C – July 2, 2009 – (RealEstateRama) — United States Senator Roland W. Burris today announced that the U.S. Department of Housing and Urban Development (HUD) is awarding the State of Illinois with $94,676,979 from the 2009 American Recovery and Reinvestment Act.
These funds will be utilized to allow housing finance agencies to continue the funding of affordable housing projects across Illinois and stimulate employment in the adversely affected construction industry.
Senator Burris and the Democratic-led Congress passed the 2009 American Reinvestment and Recovery Act that was signed into law by President Obama in February.
“I am pleased that the American Recovery and Reinvestment Act we passed in February is working to provide vital funding for housing programs right here in Illinois.” said Senator Burris. “These funds not only help to ensure that Illinoisans are given every opportunity to have access to affordable housing programs, but will be essential in creating jobs throughout the state.”
Through HUD’s new Tax Credit Assistance Program (TCAP), $1,035,322,485 in Recovery Act funding will be distributed to affordable housing programs in 26 different states that are suffering from the economic recession.
U.S. Department of Housing and Urban Development (HUD)