Last week, the Department of Housing and Urban Development (HUD) allocated the first round of Community Development Block Grants (CDBG) from the Disaster Relief Appropriations Act of 2013. HUD allocated a total of $5.4 billion in funding to five states, as well as New York City, representing 34 percent of the $16 billion in CDBG funding appropriated by the disaster relief legislation. HUD determines funding allocation levels based on data provided by the Federal Emergency Management Administration (FEMA) Individual Assistance Program and the Small Business Administration’s disaster loan programs. Generally, CDBG funds are intended for use to restore housing and infrastructure and for economic revitalization in areas affected by disaster. Oversight of the funds will be performed by HUD, the federal Office of Management and Budget (OMB), and the Recovery Accountability and Transparency Board, as well as a Project Management Office established by the new Hurricane Sandy Rebuilding Task Force set up by the President to coordinate the federal government’s efforts to assist rebuilding.

Link: Press Release