HUD’s $75M Loan Guarantees for Community Projects

The U.S. Department of Housing and Urban Development (HUD) is giving a total of $75 million to some cities to help them with important projects. This money comes through a program called Section 108 Loan Guarantee. It will be used for projects that make communities better and give opportunities to people with low or moderate incomes.

Here’s how the money is divided:

  • $20 million goes to Omaha, NE – They will use it to create a loan pool to help housing developers in certain areas.
  • $20 million goes to Fresno, CA – They will build a special center for seniors.
  • $34 million goes to Oakland, CA – They will use this money for projects that create jobs, and affordable housing, and make things fair for everyone.
  • $2 million goes to Redding, CA – They will improve a park to make it accessible for older and disabled people.

These projects aim to improve housing, help small businesses, and make neighborhoods better. The money comes from a program that helps with community development, especially for those who need it the most.

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