U.S. Housing and Urban Development Secretary Mel Martinez announced that HUD will earmark an additional $105 million to help pay the utility bills of public housing authorities and resident management corporations blind-sided by energy costs.
Martinez noted that many utility bills are, on average, 18 percent higher than what housing authorities projected last year. In some cases, he said, the bills have climbed over 50 percent. He cited the Los Angeles Housing Authority's utility bill, which has increased 25 percent, as an example. "Increases of that magnitude are simply too large to absorb." Martinez explained that $55 million of the $105 million will be put into a general resources fund used to meet the total subsidy requirements for the nation's 3,100 PHAs. With the additional funding the account will total $3.29 billion, which is divided among the housing authorities.
Thanks to Abhijeet Chavan
Read the full story: HUD No. 01-032
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