Wednesday, Jul 6 2011 8:04AM
Denver was given HUD's HOPE VI housing program grant over Pueblo, the newspaper reports.
The Pueblo Housing Authority's (
PHA) application for a $22 million grant from the
U.S. Department of Housing and Urban Development's (HUD) HOPE VI housing program was denied recently, according to the Pueblo Chieftain, with the funding going to the Denver Housing Authority instead.
According to the paper, the
PHA intended to use funding from HUD to replace an aging housing complex with affordable housing units - a project very similar to the one planned in Denver.
Pueblo Town Council president Ray Aguilera told the paper he isn't sure more funding opportunities will arise for Pueblo to replace the housing complex.
Frank Pacheco, director of the
PHA, told the newspaper he and the city council are disappointed Pueblo couldn't secure the funding for new affordable housing upgrades.
He said the next step was to explore the sale of tax credits to generate money. However, he added the
PHA would likely still need HUD funding for housing vouchers to maintain affordable rental costs for the building's current occupants during renovations.
"Whether HUD would approve a voucher program for us, I don't know," said Pacheco. "But that would be the next step in getting the
Sangre de Cristo units replaced. We're not going to stop trying."
Rental costs at the complex are currently capped at 30 percent of residents' incomes.