Center on Budget and Policy Priorities
WASHINGTON, D.C. – February 4, 2013 – (RealEstateRama) — The Center on Budget and Policy Priorities recently held a webinar to discuss the impacts the federal budget will have on low income housing and community development programs. As expected the outlook is grim. With sequestration on the horizon and uncertainty as to whether Congress will be able to agree on a budget resolution, there are many unknowns. One thing that is certain is that funding levels will fall regardless of the outcome.
Below are estimated cuts to Connecticut funding if sequestration is implemented:
CDBG Formula Grants
- 2012 actual: $34,325,990
- 2013 estimated sequestration cut: -$1,750,625
HOME Program
- 2012 Actual: $11,467,021
- 2013 estimated sequestration cut: -$584,818
Housing Choice Vouchers
- 2012 number of families assisted: $33,767
- 2013 estimated number of families cut under sequestration: -$1,753
Public Housing
- 2012 estimated funding: $32,070,160
- 2013 estimated funding cut under sequestration: -$4,185,578
Homeless Assistance
- 2012 actual funding: $35,567,628
- 2013 estimated funding cut under sequestration: -$1,813,949
HOPWA (housing opportunities for persons with AIDS)
- 2012 actual funding: $3,228,628
- 2013 estimated funding cut under sequestration: -$164,660
Click here for updated state-by-state sequestration estimates for major HUD programs
View the PowerPoint presentation from the 1/29/13 webinar- Next State of the Budget Battle: What Does it Mean for Low-Income Housing and Community Development?
