Treasury Announces $486 Million in Recovery Act Funds to Create Jobs, Spur Homebuilding
As part of the Obama administration’s effort to create jobs and ease pressures on the housing market, the U.S. Department of the Treasury recently granted $486 million in American Recovery and Reinvestment Act funding to spur the development of affordable housing units in Alabama, Arkansas, Connecticut, Georgia, Louisiana, Maryland, Massachusetts, Montana, New Hampshire, New Mexico, the Virgin Islands and Vermont. Economic analysts have long noted that the labor and housing crises in this country are deeply inter-connected. In response, the Treasury Department and the Department of Housing and Urban Development have been implementing new efforts designed to help families while providing important assistance to homebuilders.