Revitalization-of-Distressed-Areas

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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

*Rehabilitation

*Other physical improvements

*Replacement housing

*Management 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.

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