Today is day three of #CDWeek2017!
As we have shared, the proposed $6.2 billion cut to HUD’s budget will be devastating to cities, both urban and rural across the nation. Here are some highlights on how Ohio and Cleveland would be impacted. Keep spreading the word and help us #FightTheCuts!
• The work of the Cleveland’s CDC system has been critical to lifting neighborhoods out of the crisis of the 1970s and driving neighborhood recovery following the most recent Great Recession.
• In Ohio for instance, cuts to the Community Development Block Grant (CDBG) would result in a loss of $137,466,074 in direct community investments and approximately $507,751,170 in leveraged community investments for FY 2018. Moreover, it is estimated that that Cleveland will lose $45,134,208 annually as a result of the proposed budget cuts to HUD. These budget cuts could impact up to 11,504 households per year. Please see below for a breakdown of how these cuts will impact Cleveland.
|
Program |
Funding Lost |
|
Community Development Block Grant |
$19,382,724 |
|
HOME |
$3,479,922 |
|
Public Housing Capital Fund |
$13,344,835 |
|
Public Housing Operating Fund |
$8,926,727 |
|
TOTAL |
$45,134,208 |
Source: Affordable Housing Online