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Notice

Housing Trust Fund; Fiscal Year (FY) 2018 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 2018 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 Start Printed Page 26081“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 2018 through this notice is $266,775,403.45. Appendix A to this notice provides the names of the grantees and the amounts of the awards.

Start Signature

Dated: May 29, 2018.

Neal J. Rackleff,

Assistant Secretary, Office of Community Planning and Development.

End Signature

Appendix A:

FY 2018 Housing Trust Fund Allocation Amounts

GranteeFY 2018 allocation
Alabama$3,000,000
Alaska3,000,000
Arizona3,997,777
Arkansas3,000,000
California36,616,277.45
Colorado3,563,587
Connecticut3,269,474
Delaware3,000,000
District of Columbia3,000,000
Florida10,442,914
Georgia5,705,499
Hawaii3,000,000
Idaho3,000,000
Illinois9,812,230
Indiana3,937,462
Iowa3,000,000
Kansas3,000,000
Kentucky3,000,000
Louisiana3,068,829
Maine3,000,000
Maryland3,578,771
Massachusetts5,720,333
Michigan6,004,558
Minnesota3,445,781
Mississippi3,000,000
Missouri3,970,270
Montana3,000,000
Nebraska3,000,000
Nevada3,000,000
New Hampshire3,000,000
New Jersey7,726,903
New Mexico3,000,000
New York22,171,681
North Carolina5,874,191
North Dakota3,000,000
Ohio6,971,712
Oklahoma3,000,000
Oregon3,654,189
Pennsylvania7,759,948
Rhode Island3,000,000
South Carolina3,007,655
South Dakota3,000,000
Tennessee3,688,511
Texas12,279,085
Utah3,000,000
Vermont3,000,000
Virginia4,672,562
Washington5,197,313
West Virginia3,000,000
Wisconsin4,117,505
Wyoming3,000,000
Puerto Rico1,253,357
America Samoa11,995
Guam97,028
Northern Marianas53,415
Virgin Islands104,591
Total266,775,403.45
End Supplemental Information

[FR Doc. 2018-12041 Filed 6-4-18; 8:45 am]

BILLING CODE 4210-67-P