Inside INdiana Business

HUD releases more CARES Act funding

WASHINGTON D.C. (Inside INdiana Business) — The third allocation of CARES Act funding has been announced by the U.S. Department of Housing and Urban Development. The $1 billion allotment is through the Community Development Block Grant program and includes nearly $20 million for Indiana.

“Coronavirus has impacted our communities and populations in unprecedented ways, and while some begin to see a decline in reported cases, others continue to fight this invisible enemy aggressively,” said Secretary Ben Carson. “This funding will afford states the ability to respond to the unique circumstances they are facing – from reducing risk of transmission to regaining the sound footing of their economy. This is the third wave of funding the Department has provided to States and insular areas, and we will continue to execute a detailed and swift response until the days of COVID-19 are behind us.”

The formula for dispersing the funding focuses on public health needs, risk of transmission, rate of cases and economic disruption. The formula uses data on low-income elderly and children to target locations with higher public health risk. 

Every state and U.S. territory will receive a portion of the funding. A list of full allocations can be found here