The U.S. Department of Housing and Urban Development’s (HUD) Office of Sustainable Housing and Communities (OSHC) recently released its 2012 Accomplishments Report, Helping Communities Realize a More Prosperous Future, (pdf download) which highlights how grantees of the 2010 and 2011 HUD Sustainability Grants are working to support locally led collaborative efforts that are building stronger regional economies.
Among the most significant findings of the report is the almost 100 percent leveraging of federal funds. In 2010 and 2011 OSHC awarded 152 grants in 48 states, totaling $240 million. This in turn has generated almost $253 million in private investments and commitments from local partners. The report further highlights that HUD’s Sustainable Communities grantees have brought significant local, state and private resources to the table. HUD’s investment of $95.8 million in 2011 generated $115 million in matching and in-kind contributions – which is more than 120% of the Federal investment – from the 56 selected grantees.
HUD estimates that its two years of grant funding will have a positive impact on 133 million Americans by helping their communities and regions become more efficient and competitive while improving their quality of life.
The report also provides numerous examples of grantees in small and large communities who are utilizing sustainability principles to create jobs. In Memphis, TN, for example, The Aerotropolis Initiative, an integrated housing, transportation and economic development strategy is stimulating investment in the vicinity of the Memphis International Airport. In coordination with other regional logistics and infrastructure strategies, the Initiative, developed in concert with FedEx, Elvis Presley’s Graceland, Medtronic and Smith Nephew biodevice companies, and numerous other major U. S. employers will lead to the creation of more than 3,000 local jobs and produce tens of millions in private capital investment.
OSHC is part of the Partnership for Sustainable Communities, which is a partnership between HUD, the U.S. Department of Transportation, and the U.S. Environmental Protection Agency. It’s goal is to support local and regional economic development, energy conservation, and increased transportation and housing options.
Helping Communities Realize a More Prosperous Future, (pdf download)
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