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Revitalization of Severely Distressed Public Housing; HOPE VI
The purpose of this program is the eradication of severely distressed public housing.
This program was developed in 1993, its purpose has been to transform public housing; by encouraging the PHA to seek partnerships with private enterprises to create mixed finance and mixed income affordable housing. The HOPE VI program; in 2003 was expanded to assist local governments in the rejuvenation of affordable housing in their local.
*Activities permitted under HOPE VI:
* Major Reconstruction
*Capital costs of demolition
*Other physical improvements
*Planning & technical assistance
*Provisions for support services
This program gives HUD the opportunities to provide competitive grants to PHA's so they can carry out the HOPE VI activities. PHA's will provide matching contributions, at least 5% of the grant amount.
The Eligibility for this program is for the PHA's and smaller communities.
Applying for a mortgage is simple, safe, and secure. Your information will only be sent to your designated FHA Loan Officer.
Please note: There are no fees to submit your application or to request your free consultation with an FHA loan officer. These services are provided to you at no charge and no obligations.
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