HUD sends $2.5 million to Wilmington for affordable housing
On the heels of a new affordable housing report, the city of Wilmington is getting a financial boon aimed at addressing the housing crisis.
The City of Wilmington is set to receive $2.5 million in funding for affordable housing from the U.S. Department of Housing and Urban Development (HUD). The agency announced a total of $5 billion in funding for recipients across the country.
The allocation is part of the American Rescue Plan, which passed through congress last month as a COVID-relief bill.
The City of Wilmington said in a statement to WHQR that the funding will “undoubtedly have a positive impact in our community,” although exact plans are not yet available. The city is waiting to receive guidance from the federal government before determining how to use the funding.
A statement from HUD said the money can be spent on development of affordable housing, rental assistance, supportive services, and acquisition and development of non-congregate shelters.
Wilmington is required to spend the $2.5 million by 2030.