KTRV Fox 12 Feds award Idaho $8.7 million for housing
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Associated Press - July 2, 2009 8:04 AM ET
BOISE, Idaho (AP) - Federal housing officials are sending Idaho more than $8.7 million in stimulus money to spur affordable housing programs that have stalled amid the economic downturn.
U.S Housing and Urban Development Secretary Shaun Donovan announced the funding Wednesday.
The money will allow the Idaho Housing and Finance Department Association to resume funding of affordable rental housing projects across the state.
The injection of cash is also designed to stimulate employment and spending in the construction sector.
Donovan says the economic stagnation, contraction of credit markets and other market forces have led to the stagnation of as many as 1,000 projects nationwide.
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