Recovery.Arkansas.gov

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Housing & Labor

Housing | Program details

The HOME Investment Partnerships Program is administered by the Arkansas Development Finance Authority (ADFA). This program provides assistance to tenants whose incomes are 60% or below of the area median income, adjusted for family size. This allocation of HOME funds is for use solely in conjunction with the Low-Income Housing Tax Credit Program for gap financing. 75% of these funds must be committed within 1 year of passage of the Act, and the project owners must spend 75% of the funds within two years. The remaining 25% must be spent within three years. Any funds not spent by the project owners according to these requirements must be redistributed within the state. Any funds remaining after 3 years will be reclaimed and redistributed to other states.

The current economic downturn has reduced the attractiveness of low-income housing tax credits to potential investors, in part, because these investors have reduced or no taxable income to offset the credits. ADFA indicates they will receive up to $132.3 million for the Low-Income Housing Tax Credit Program as part of an exchange program for low-income housing credit allocations. The amount will be used to make sub-awards to finance the construction, acquisition and rehabilitation of qualified low-income buildings.

The Neighborhood Stabilization Program (NSP) is a competitive grant program authorized by the Housing and Economic Recovery Act. The funds, if any are awarded to Arkansas, will be on a competitive application basis through the Arkansas Economic Development Commission (AEDC). The program provides loans for the acquisition and rehabilitation or demolition of abandoned and blighted properties. Any NSP awarded to Arkansas will be available statewide to local government, non-profit organizations, public housing authorities, and private developers.

Public Housing Assistance Funds are administered directly by the Department of Housing and Urban Development (HUD) through local housing development authorities and community development corporations and are referenced under "Cities & Counties".

Labor | Program details

WIA Training & Employment Services will be used for employment & training activities, Community Service for Older Americans, Dislocated Workers' Assistance, YouthBuild activities and competitive grants for training and placement in high growth and emerging industries. The Act will increase WIA age eligibility for youth activities from age 21 to age 24. UI Administration provides for the state's administrative costs for State Unemployment Insurance and Employment Services Operations. UI Benefits Extension will extend unemployment benefits set to expire in March through December 2009. UI Increased Benefits will increase benefit payments by $25 per week, and UI Modernization will expand the state's pool of coverage if certain conditions are met and UI law is amended to incorporate these conditions. The deadline to apply is August, 2011. Unemployment Insurance programs will most likely require more than is indicated here due to the unprecedented economic downturn that the state and nation are facing.

Overview | Cities & Counties | Education & Higher Ed | Energy & Weatherization | Fiscal Stabilization | Housing & Labor
Human Services / Medicaid | Nationally Competitive Programs | Safety & Community | Transportation | Water & Environment