HUD yesterday announced the third round of funding for the Neighborhood Stabilization Program (NSP) Funding. Texas Grantees received $18 Million:
|State Of Texas||$7,284,978|
Texas’s grants are make it the 10th largest NSP recipent, dwarfed by Florida and California’s share of the $970,000,000 allocated in the funding round:
HUD also released the “Snapshot Reports” showing Grantee progress on first round of NSP funding as of 8/31. The snapshot of Texas recipients indicates that TDHCA was only 55% obligated as of 8/31. Given that TDHCA reported last Friday (9/3) that they had obligated 100% of their funds, that fact suggests that TDHCA obligated an impressive 45% of their funds in the final days before the deadline.
Other than TDHCA, only two Direct Grantees in Texas were less than 75% obligated: Fort Bend County, at 27% obligated, and El Paso, at 4% obligated. If these grantees don’t reach 100% obligation by their respective 18-month deadlines, HUD will impose additional restrictions and oversight on their activities.