- DSNews - https://dsnews.com -

HUD Invests in Small Distressed Communities

The U.S. Department of Housing and Urban Development (HUD) has granted $6 million to the Local Initiatives Support Corporation (LISC). Through this grant, HUD is increasing its investment in small distressed communities, the agency said in a recent statement.

The grant will provide "critically needed technical assistance to distressed communities with populations under 40,000, including those located in Opportunity Zones and communities struggling to recover from natural disasters," according to HUD.

The agency will partner with LISC to give technical assistance that will:

Speaking about HUD's investment in these small communities, Dr. Ben Carson, Secretary, HUD said that the grant would support distressed communities "struggling against the headwinds of economic decline and natural disasters."

“The technical assistance provided to these communities will help local planners deploy a variety of federal resources to stimulate job growth and economic recovery for the benefit of their citizens, including the leveraging of Opportunity Zone investment,” he said in a statement.

HUD's Distressed Cities Technical Assistance Program focuses on financial management, economic development, and disaster recovery planning in distressed cities. The program aims to adopt effective, efficient, and sustainable financial management practices, build capacity for financial management economic revitalization, and affordable housing, and improve knowledge of federal development programs.