The U.S. Treasury Department on Friday announced that it would about $486 million in funding to increase the development of affordable housing units.
The funding was authorized by the American Recovery and Reinvestment Act, the fiscal stimulus package President Barack Obama signed into law earlier this year to jumpstart the economy and state governments.
According to the announcement, approximately $36 million will go to
The Treasury's announcement Friday marks the fourth round of announcements related to the affordable housing initiative. The Treasury has already announced awards for several other states. The total awards announced by the Treasury come to about $1.2 billion.
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