The Department of Housing and Urban Development yesterday allocated more than $10 billion of stimulus funding to states and localities. The funds included $2.25 billion to housing finance agencies to kick-start stalled housing projects that rely on low-income housing tax credits, $2 billion for Section 8 project-based housing contracts, and $1 billion for its community development block grant program.

"Recovery Act investments in HUD programs will be not just swift, but also effective: they will generate tens of thousands of jobs, help the families and communities hardest hit by the economic crisis, and modernize homes to make them energy efficient," said HUD Secretary Shaun Donovan.

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