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HUD Funds Increased in FY 2010 Budget

 HUD Funds Increased in FY 2010 Budget, in which the Administration outlined its priorities to Congress, proposing that HUD receive $61.1 billion including $13.6 billion from the Recovery Act. Funding Highlights:

-Provides full funding for HUD's Community Development Block Grant program at $4.5 billion; reforms the program's formula to better target economically distressed communities, stimulate innovations in metropolitan sustainability, university partnerships, and rural housing and economic development.

-Enables the Department to preserve approximately 1.3 million affordable rental units through increased funding for the Department's assisted multifamily properties.

-Combats mortgage fraud and predatory loans. The Budget funds enhanced enforcement of fair housing, mortgage disclosure, and settlement requirements.

-Creates a new Energy Innovation Fund to catalyze private sector investment in the energy efficiency of the nation's housing stock.