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IURA reports HUD entitlement allocations, loan fund balance and grant delays; Southworks abatement raises costs
Summary
Committee heard an informational update on the IURA’s recommended 2025 HUD entitlement action plan, grant disbursement and loan receivables; staff reported delays in homeowner rehab spending, possible HUD spend-down letter, and that Southworks is encountering higher-than-expected abatement costs.
The IURA’s Economic Development Committee on April 8 reviewed the agency’s adopted recommended 2025 HUD entitlement action plan and received updates on grant disbursement, loan receivables and ongoing site projects.
Committee staff said the Neighborhood Investment Committee’s recommendations led to fuller funding for job-training programs in the Community Development Block Grant (CDBG) category, while less funding than initially proposed went to some housing projects. Staff estimated that roughly $13,000 will flow into the loan fund in the coming program year, bringing the fund to approximately $272,000–$275,000 available for lending when the program year…
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