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HUD:
It's been a very good year for the Department of Housing and Urban Development's chief program for promoting affordable housing.
In fact, HUD's HOME Investment Partnerships Program (HOME) posted record performance during fiscal year 2006 with substantial increases in the number of families assisted and affordable homes produced.
In 2006, more than 143,000 households benefited from hundreds of local programs that HOME supports, a 42 percent increase over the previous year.
Meanwhile, President Bush's fiscal year 2007 budget seeks an additional $159 million for the HOME program to build on this year's record production.
"Behind these numbers are families struggling to find a home they can afford," said HUD Secretary Alphonso Jackson.
HUD's Office of Affordable Housing reports that during FY 2006, 120,071 affordable homes were either constructed or renovated through its HOME Program, compared to 80,751 in 2005.
The spike in HOME's affordable housing production is due in large part to HUD's aggressive effort to boost performance measurements and stepped up efforts to encourage participating jurisdictions to report their results more accurately.
Posted on November 2, 2006 10:50 PM
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