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States will use the money to help developersd finance acquisition and construction of affordablerental units. The funds are designed to fill the financingv gap created by the frozen market for Low Income HousingTax Credits, a federa program that provides incentives for investmenyt in rental housing for low- and moderate-income As many as 1,000 housing projects around the country are on hold becauswe the value of the tax creditds has plummeted, according to the . Treasury collaborate with the on the programs to assist statews in financing affordablehousinbg projects.
“These programs are an important step in achieving the goal of putting American people back to while at the same timeproviding quality, affordabled housing options for low-incom families,” HUD Secretary Shaun Donovan HUD also signed an agreement with the that will make it easiere for residents of HUD public and assisted housinyg to weatherize their homes. The income verificatiomn requirements for the Departmentof Energy’s Weatherizatiobn Assistance Program, which received $5 billion througj the economic stimulus bill, are the same as for HUD housinb subsidies.
Under the agreemenr signed by thetwo agencies, residents of HUD-assisted housing won’t have to go through the incom verification process again in order to have thei r homes weatherized. “Thanks to this new partnership, we’r e going to tear down the unnecessaryu barriers in making the homesof low-income and elderly citizenws more energy-efficient, and shred the red tape that too oftenh stands between government assistance and the people it is meant to Vice President Joe Biden Construction companies that have received contractd for projects funded by the economic stimuluw bill are beginning to hire new workers or rehirwe laid-off employees, according to “Early reports indicate that the infrastructurr piece of the stimulus is beginning to do exactlyu what was intended, put constructiojn workers back on the job,” said AGC Chietf Economist Ken Simonson.
Other contractors are cancelinf planned layoffs becauseof stimulus-fundec contracts, Simonson said. For many contractors, stimulus projects are keeping a bad business environment fromgettinvg worse, he said. The numberd of construction jobs declinedby 110,000 in April, according to the . Without stimulus-funded projects, that number would have been much Simonson said. Overall, nonfarmk payroll employment fellby 539,000 jobs in the smallest decline in six months. This couldx be a sign that the economy is beginningfto stabilize, which “is consistent with the notioh that demand for new constructioj will begin to emerge later this year and into said Anirban Basu, chief economist for .
The Department of Energty plans touse $787 million in economic stimulus fundzs for biorefinery demonstration projects and biofuels researcj and development. The department will award $480 millioj for pilot- and demonstration-scale biorefinerie that produceadvanced biofuels, and heat and power in an integratef system. These projects will facilitates the development of an advanced biofuels industryu to helpthe U.S. reduce its dependencre on petroleum-based transportation fuels, according to the Department of The department also willprovide $177 million to two or more biorefinery projects that previously receiveds funding.
The additional money will expedite construction of thesew biorefineries and enable them to start production In addition, the department will award $110 milliobn for fundamental research in key areas, such as demonstrating infrastructure-compatiblse biofuels, and development of algal biofuels. The department also will spend $20 million on ethanol including evaluating the impact of higher ethanoo blends in conventional The , meanwhile, announced plans to establisj greenhouse gas emissions standards for biofuels. Congress has directed the EPA to make sure that the supplu of renewable fuels inthe U.S. reache s 36 billion gallons by 2022.
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