2018-12041. Housing Trust Fund; Fiscal Year (FY) 2018 Allocation Notice  

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    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.

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    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).

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    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.

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    Dated: May 29, 2018.

    Neal J. Rackleff,

    Assistant Secretary, Office of Community Planning and Development.

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

    BILLING CODE 4210-67-P

Document Information

Published:
06/05/2018
Department:
Housing and Urban Development Department
EntryType:
Notice
Action:
Notice of fiscal year 2018 funding awards.
Document Number:
2018-12041
Pages:
26080-26081 (2 pages)
Docket Numbers:
Docket No. FR-6108-FA-01
SectionNoes:
PDF File:
2018-12041.pdf