Obama 2011 budget request: Department of Housing and Urban Development
Monday, February 1, 2010; 12:18 PM
The Department of Housing and Urban Development would receive $43.5 billion in the next fiscal year, according to the 2011 Obama budget, a roughly 2 percent drop from $41.5 billion in 2010.
The administration expects the housing agency to actually spend $48 billion, but it will seek to offset the agency's expenses by collecting $6.8 billion in HUD mortgage insurance premiums.
Compared with last year, the agency's budget increases rental assistance for low- and extremely low-income families by $2.1 billion through housing vouchers and project-based rental assistance. It also provides $2.1 billion for homelessness assistance grants to help transition families off the streets and into safe housing, a $200 million increase from the previous year.
At the same time, the proposal calls for dramatically cutting housing for the elderly, by $551 million, from 2010 spending of $824 million. It also calls for cutting funds for housing for people with disabilities by $210 million, from $300 million in this year.
The new budget provides $4.4 billion for local and state community development block grants, a reduction of $70 billion from last year. But it carves out $150 million of that total pot to create new Catalytic Competition Grants that expand the size of proven economic development projects.
For the full budget request, click here.