The Charlottesville Redevelopment and Housing Authority will be receiving nearly $797,000 in federal economic stimulus funds to help modernize public housing, according to an announcement made Thursday by U.S. Rep. Tom Perriello, D-Ivy.
The funding will come through the Public Housing Capital Fund, which provides money to modernize and redevelop public housing, especially to improve energy efficiency in aging buildings.
Charlottesville has 11 public housing sites with 376 units, and officials have long discussed redevelopment for many of the sites.
Under the provisions of the American Recovery and Reinvestment Act, housing authorities must give priority to capital projects that can award contracts based on bids within 120 days from the date the funds are made available. They are also required to spend at least 60 percent of funds within two years of receiving funds, and spend all of the funds within three years.
Read more about the housing economic stimulus funds in Friday’s Daily Progress.
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