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FY 2011 Budget: Toward Catalytic Investment

This document provides an overview of the US Department of Housing and Urban Development's FY 2011 budget, with a focus on community planning and development. It discusses the objectives of the budget, including strengthening the housing market, providing affordable rental homes, improving quality of life, building inclusive communities, and transforming HUD's business practices. The budget also highlights initiatives such as the Catalytic Investment Competition and Capacity Building program.

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FY 2011 Budget: Toward Catalytic Investment

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  1. FY 2011 Budget: Toward Catalytic Investment US. Department of Housing and Urban Development Office of Community Planning and Development February 3, 2010

  2. Agenda • Overview of HUD’s FY11 Budget • Overview of Community Planning and Development’s FY11 Budget • Investing in People and Places • The Catalytic Investment Competition • Capacity Building • Questions?

  3. HUD’s FY2011 Budget Objectives • Strengthen the Nation’s housing market to bolster the economy and protect consumers; • Meet the need for quality affordable rental homes; • Utilize housing as a platform for improving quality of life; • Build inclusive and sustainable communities free from discrimination; • Transform the way HUD does business

  4. Building on the 2010 Budget In FY 2011, we take a hard look at our core programs and create innovative, cross-cutting initiatives

  5. Building on the 2010 Budget • To support the implementation of the HEARTH Act, the Budget proposal a nearly $200 million increase in homeless assistance funding compared to FY 2010. • Proposes a new interagency initiative to make mainstream programs work to end homelessness.

  6. Inclusive and Sustainable Communities • Place is at the center of every decision HUD makes. • The FY 2011 Budget: • - Fully funds CDBG • - Connects transportation and housing through a Sustainable Communities Initiative • - Takes Choice Neighborhoods to scale • - Creates new Catalytic Competition Grants • - Increases funding for capacity building for non-profits

  7. Building Inclusive and sustainable communities

  8. Building Inclusive and sustainable communities • Significantly depleted resources in local governments with increased demand for services. • Communities express difficulty in accessing the capital to jump start large scale transformative projects in the most distressed neighborhoods. • This program builds on the lessons of HOPE VI to provide a catalyst to modernize public housing. • Provides a complement to Choice Neighborhoods, connecting housing to economic development for a holistic revitalization strategy.

  9. The Catalytic Investment Competition HUD’s Budget proposes $150 million for the Catalytic Investment Competition • Capitalize innovative and targeted economic investment by targeting the hardest hit neighborhoods • Create a bridge - funding will be the connector among place based programs by providing the capital to bring projects to scale. • Target distressed neighborhoods • Promote economic recovery and job creation

  10. The Catalytic Investment Competition • Reward Planning: funding communities that have developed an innovative and robust • EncourageCollaboration: Consortia may apply along with governmental entities. • Allow Flexibility: A competitive funding stream that is responsive to changes in economic and market conditions.  • Leveraging: Complement other private and public programs, including mainstream CDBG and Section 108 Loan Guarantees. • Augment other place-based strategies.

  11. Capacity Building HUD must embrace a 21st century vision for supporting the affordable housing and community development sector and will reframe the Section 4 program, including renaming the program to “Capacity Building”, in order to reflect that vision. HUD’s Budget proposes $60 million for an enhanced Capacity Building Program • Expanding HUD’s ability to support a broader group of partners. • This represents $26 million in additional funding over the FY2009 levels, an increase of 76%.

  12. Capacity Building: Reforms • Assist local governments by expanding eligible service recipients of technical assistance. • Embrace high performing intermediaries through mainstream programs by opening up the competition for all eligible regional and national intermediaries. • Encourage private partnerships by maintaining a 3:1 match requirement. • Ensure that communities are well served by including market research analysis and merger actions in the eligible uses of the funding.

  13. FY 2011 Budget: Toward Catalytic Investment US. Department of Housing and Urban Development Office of Community Planning and Development February 3, 2010

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