Stimulus money coming for HUD facilities

By Vershal Hogan (Contact) | The Natchez Democrat

Published Friday, March 27, 2009

FERRIDAY — More stimulus money is coming to the area, this time in the form of a $131,959 allocation for U.S. Housing and Urban Development housing facilities in Ferriday.

The allocation — part of $73 million dedicated to Louisiana HUD housing — was announced in a statement from Sen. Mary Landrieu’s office Thursday.

“While Louisiana has been somewhat spared from the foreclosure crisis that has gripped other parts of the country, we have a different kind of housing crisis — a chronic under funding of affordable housing opportunities in our urban areas and our many rural communities,” Landrieu said in the statement.

The stimulus funds are specifically dedicated for capital improvements to the existing HUD housing units, Louisiana Housing Council President Richard Murray said.

Rather than having to apply for the funds, the various housing organizations designated funds were dedicated to will receive them automatically.

A formula is already in place to determine how much funding a specific HUD-affiliated organization gets every year, Murray said.

“They basically took the amount of the money that is in the stimulus package and they applied it against our formula,” he said.

The stimulus funds have to be obligated — either under a contract or in use — within a year, and the money has to be spent within two to three years.

“Every grant we get has some stipulations like this, but this one is a little more aggressive than the other ones we have,” Murray said.

Ferriday Housing Authority Executive Director Netrina England said she did not know the funds had been dedicated Thursday morning.

She could not be reached for further comment Thursday afternoon.