While Housing Shortage Worsens, Funding is Cut
The Community Development Block Grant (CDBG) program, funds local community development projects 16% cut. HOME Investment Partnerships Program, which helps pay for affordable housing projects, was cut by 35%. HOPE VI and the Choice Neighborhoods Initiative, which aim to revitalize distressed public housing by transforming it into mixed-income developments, were slashed by 50%. Redevelopment Funding, the largest source of funding for affordable housing in California, 1.7 billion dollars, completely eliminated.