Colorado was awarded $12.1 million from the U.S. Department of Housing and Urban Development (HUD) for improvements to public housing units Tuesday, the Denver Business Journal reports.
Total, 44 Colorado housing authorities received funding through HUD's Capital Fund Program, according to The Denver Post. The Denver Housing authority received the largest allotment of the funding, at $5.73 million and the Louisville Housing Authority received the smallest portion at $18,392.
Rick Garcia, HUD's Regional Administrator said that the "funding is essential and can be used to make vital improvements such as new roofs, energy-efficient upgrades, including geothermal systems and solar panel collectors that result in better utility cost management," the Denver Business Journal reports.
However, according to The Denver Post, HUD Secretary Shaun Donovan said that the funding helps, but it's not enough.
While this funding will certainly help housing authorities address long-standing capital improvements, it only scratches the surface in addressing the deep backlog we're seeing across the country.
Denver Business Journal reports that a recently released HUD study shows that nationally, the 1.2 million public housing units are facing approximately $25.6 billion in much-need large-scale repairs.