Idaho to get $23.4 million from HUD as part of stimulus package

Idaho will receive $23.4 million as a result of allocations by the U.S. Department of Housing and Urban Development, which decided on Wednesday where nearly $10.1 billion from the stimulus package would go.

Public Housing Capital Fund Program: $1.5 million to 10 Idaho housing authorities. Local public housing agencies will use this money for energy-efficient modernization and to make large-scale improvements to public housing developments, including critical safety repairs.

Native American Housing Block Grant: nearly $1.7 million to four tribal organizations.

Shoshone-Bannock $634,968

Nez Perce Tribe $508,885

Coeur d'Alene Tribe $481,580

Kootenai Tribe $38,484

Tax Credit Assistance Program: $8.7 million.

TCAP grants will help State Housing Finance Agencies to kick-start the production of stalled affordable rental housing projects that rely on Low-Income Housing Tax Credits. Project-Based Rental Assistance: $3.3 million to 30 contracts in Idaho.

This funding will allow owners to undertake much-needed project improvements to maintain the quality of Section 8 affordable housing.

Community Development Block Grant Program: $3.3 million to eight grantees.

Nonentitlement: $2.3 million

Boise: $348,831

Nampa: $144,571

Pocatello: $134,733

Idaho Falls: $109,234

Coeur d'Alene: $82,719

Lewiston: $71,950

Meridian: $64,584

Most local governments use this money to rehabilitate affordable housing and improve key public facilities.

Emergency Shelter Grant Program/Homelessness Prevention: nearly $5 million to two grantees.

State program: $4,438,807

Boise: $533,411

Federal Housing Administration loan limits will be increased temporarily for mortgages insured by the FHA up to $729,750.

FHA's loan limits in very high-cost areas were capped at $625,500. FHA's reverse mortgage called the Home Equity Conversion Mortgage will have a new national mortgage limit of $625,500, up from the previous limit of high of $417,000. These increased loan limits are applicable to all FHA-insured mortgage loans endorsed until December 31.