© 2009, Ice Miller LLP
Impact	Change	Guidelines Under Stimulus Package	Contact
Public Housing
Public Housing Capital Fund	$4 billion of funding set aside by Congress	To be used for capital and management activities for public housing agencies.  Specifically it is meant to address the $32 billion shortfall by public housing agencies,
Community Development Fund	$1 billion in funding	This funding is earmarked to improve energy efficiency in aging developments.
Section 8 Rental Assistance	$2.25 billion to assist owners	This funding will be used for investments in low-income housing tax credit projects.
Neighborhood Stabilization Program	$2 billion in appropriations	To assist with the redevelopment of abandoned and foreclosed homes as authorized under the Housing and Economic Recovery Act of 2008.
Homeless Prevention	$1.5 billion in funding	This funding will be sent to state and local governments and private non-profit organizations for rapid re-housing activities for the homeless.
Housing Stability and Green Retrofits	$2.25 billion in funding	$2 billion is to be used for assisting owners of properties receiving project-based assistance pursuant to the Housing Act of 1959, the Cranston-Gonzalez National Affordable Housing Act or the United States Housing Act of 1937.  $250 million is for grants or loans for energy retrofit and green investments in assisted housing.
Development of Affordable Rental Housing	Credit exchange	Allows state allocating agencies to return a portion of their LIHTC volume in exchange for funding to provide gap financing for "ready to go" developments.
Development of Affordable Rental Housing	$2.5 billion	Additional funds to the state allocating agencies under the HOME Investment Partnerships Program.
Development of Affordable Rental Housing	$2 billion	Increase in funding under the Neighborhood Stabilization Program.
Development of Affordable Rental Housing	$4 billion	Increase in public housing capital funds.
Development of Affordable Rental Housing	$2 billion	Increase in Section 8 project-based rental assistance.
Development of Affordable Rental Housing	$1 billion	Additional funding under the Community Development Block Grant Program.