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July 2023 » thefivestar.com 65 J O U R N A L July 2023 allow households with an HCV to use it for mortgage payments rather than rent. One major contributor is the disproportionate burden that mortgage costs place on Black potential homebuyers. Inequity in income, along with structural racist policies, leads to nearly half of all of the vouchers going to Black non-Hispanic households. A summary concluded that successful implementation requires collaboration between housing agencies, lenders, and other first-time homebuyer programs. Historically, discrimination has caused a disparity in access to home ownership and its benefits. Living in inadequate housing requires more upkeep and paying relatively more in property taxes. Legacies of redlining and current discriminatory lending have also hampered Black households' efforts to gain access to quality housing. Key findings of the study include: » The HCV home ownership program is limited in size and scope. » The use of homeownership vouchers is higher in places with lower housing costs and lower fair market rent. » Public housing authorities that use the highest share of vouchers for homeownership tend not to have majority Black non-Hispanic clientele. However, four out of five of the PHAs with the most participants serve majority Black non- Hispanic households in their programs: Philadelphia, Chicago, New Orleans, and Louisville. » Foreclosures and non-payment are uncommon. Strategies that the study said could help close the voucher gap include higher income limits for participants, the creation of a distinct class of vouchers earmarked for homeownership, extending the length of subsidy allowed in the HCV homeownership program, and more funding for the lump sum and/or down payment option. No one policy or program is likely capable of closing the Black-white homeownership gap, which will take adding nearly five million African American homeowners nationwide. Researchers and policymakers are therefore exploring policies to make housing more affordable, strengthen government mortgage programs, and reduce renters' barriers to homeownership. HUD ANNOUNCES FUNDING TO SUPPORT SMALL COMMUNITIES T he U.S. Department of Housing and Urban Development (HUD) announced a Notice of Funding Opportunity (NOFO) of $2 million through the HOPE VI Main Street Program. This grant program provides assistance to commu- nities looking to create affordable housing in central business districts (Main Street areas) that are undergoing redevelopment. HUD is looking to target Main Street areas in cities with this funding opportunity. "HUD recognizes that cities are in need of revitalization across the country," HUD Secretary Marcia L. Fudge said. "We want to support city governments in their efforts to restore economically crucial business dis- tricts by providing housing in these areas." The main program objectives are to: » Redevelop Main Street areas » Preserve historic or traditional Main Street area properties by replacing unused com- mercial space in buildings with affordable housing units » Enhance economic development efforts in Main Street areas » Provide affordable housing in Main Street areas Eligible applicants are limited to Units of General Local Governments with a popula- tion of 50,000 or less and 100 or fewer public housing units within its jurisdiction. The application deadline is 10/12/2023.