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Notice

Housing Trust Fund Federal Register Allocation Notice

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Start Preamble

AGENCY:

Office of the Assistant Secretary for Community Planning and Development, HUD.

ACTION:

Notice of Fiscal Year 2016 Funding Awards.

SUMMARY:

The Housing and Economic Recovery Act of 2008 (HERA) established the Housing Trust Fund (HTF) to be administered by HUD. Pursuant to the Federal Housing Enterprises Financial Security and Soundness Act of 1992 (the Act), as amended by HERA, Division A, eligible HTF grantees are the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, Guam, the Commonwealth of Northern Mariana Islands, and the United States Virgin Islands. In accordance with Section 1338 (c)(4)(A) of the Act, this notice announces the formula allocation amount for each eligible HTF grantee.

Start Further Info

FOR FURTHER INFORMATION CONTACT:

Virginia Sardone, Director, Office of Affordable Housing Programs, Room 7164, Department of Housing and Urban Development, 451 Seventh Street SW., Washington, DC 20410-7000; telephone (202) 708-2684. (This is not a toll-free number.) A telecommunications device for hearing- and speech-impaired persons (TTY) is available at 800-877-8339 (Federal Information Relay Service).

End Further Info End Preamble Start Supplemental Information

SUPPLEMENTARY INFORMATION:

Section 1131 of HERA Division A amended the Act to add a new section 1337 entitled “Affordable Housing Allocations” and a new section 1338 entitled “Housing Trust Fund.” HUD's implementing regulations are codified at 24 CFR part 93.

Congress authorized the HTF with the stated purpose of: (1) Increasing and preserving the supply of rental housing for extremely low-income families with incomes between 0 and 30 percent of area median income and very low-income families with incomes between 30 and 50 percent of area median income, including homeless families, and (2) increasing homeownership for extremely low-income and very low-income families.

Section 1337 of the Act provides for the HTF (and other programs) to be funded with an affordable housing set aside by Fannie Mae and Freddie Mac. The total set-aside amount is equal to 4.2 basis points (.042 percent) of Fannie Mae and Freddie Mac's new mortgage purchases, a portion of which is for the HTF.

Section 1338 of the Act directs HUD to establish, through regulation, the formula for distribution of amounts made available for the HTF. The statute specifies the factors to be used for the formula and priority for certain factors. The factors and methodology HUD uses to allocate HTF funds among eligible grantees are established in the HTF regulation. The funding announced for Fiscal Year 2016 through this notice is $173,591,160. Appendix A to this notice provides the names and the amounts of the awards.

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Dated: April 22, 2016.

Clifford Taffet,

General Deputy Assistant Secretary for Community Planning and Development.

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Appendix A: FY 2016 Housing Trust Fund Allocation Amounts

GranteeFY 2016 Allocation
Alabama$3,000,000
Alaska3,000,000
Arizona3,000,000
Arkansas3,000,000
California10,128,143
Colorado3,000,000
Connecticut3,000,000
Delaware3,000,000
District of Columbia3,000,000
Florida4,598,821
Georgia3,314,612
Hawaii3,000,000
Idaho3,000,000
Illinois4,302,012
Indiana3,000,000
Iowa3,000,000
Kansas3,000,000
Kentucky3,000,000
Louisiana3,000,000
Maine3,000,000
Maryland3,000,000
Massachusetts3,419,569
Michigan3,522,622
Minnesota3,000,000
Mississippi3,000,000
Missouri3,000,000
Montana3,000,000
Nebraska3,000,000
Nevada3,000,000
New Hampshire3,000,000
New Jersey3,733,566
New Mexico3,000,000
New York7,013,963
North Carolina3,280,235
North Dakota3,000,000
Ohio3,740,578
Oklahoma3,000,000
Oregon3,000,000
Pennsylvania3,862,285
Rhode Island3,000,000
South Carolina3,000,000
South Dakota3,000,000
Tennessee3,000,000
Texas4,778,364
Utah3,000,000
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Vermont3,000,000
Virginia3,139,830
Washington3,243,721
West Virginia3,000,000
Wisconsin3,004,558
Wyoming3,000,000
American Samoa12,321
Guam77,609
N. Mariana Islands35,735
Puerto Rico326,054
Virgin Islands56,562
Total173,591,160
End Supplemental Information

[FR Doc. 2016-10508 Filed 5-4-16; 8:45 am]

BILLING CODE 4210-67-P