Parkersburg City Council Considers Reallocating $300K in Federal Housing Funds
What happened
Habitat for Humanity of the Mid-Ohio Valley is seeking the reallocation of nearly $300,000 in unused federal housing funds. These funds, which include amounts from fiscal years 2021, 2022, and 2023, are currently under consideration by the Parkersburg City Council. The proposed revision would use the money to construct up to four affordable houses on Urban Renewal Authority property.
From mariettatimes.com
Why it matters
The reallocation involves federal HOME Consortium funds administered for the Parkersburg-Wood County area. Habitat for Humanity is the designated Community Housing Development Organization for the consortium. The move directly impacts the availability of capital for local affordable housing projects.
Parkersburg is collaborating with Habitat for Humanity, operating under the structure of the Wood County Commission.
From mariettatimes.com
Who's involved
- ParkersburgThe city council is considering the budget revision and reallocation of federal housing funds.
- HabitatThe designated Community Housing Development Organization seeking the fund reallocation.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- ParkersburgSpeculative
The city might see increased local construction demand as the funds are directed toward urban renewal projects.
- HabitatSpeculative
Habitat for Humanity could see changes in its housing development costs due to the reallocation of federal funds.
Keep exploring
The entities involved
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Parkersburg
city in and county seat of Wood County, West Virginia
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Habitat
international furniture store chain