Official Name: U.S. Department of Housing and Urban Development (HUD)
Mission Statement: HUD's mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. To fulfill this mission, HUD will embrace high standards of ethics, management and accountability and forge new partnerships--particularly with faith-based and community organizations--that leverage resources and improve HUD's ability to be effective on the community level.
Director: Alphonso Jackson
Number of Employees: 10,600 (FY 2005)
Budget: $35.201 Billion (discretionary) FY 2008
(Dollars in Millions)
| |
2006 |
2007 |
2008 |
| |
Actual |
Estimate |
Budget |
| Total Budget Authority |
34,057 |
34,669 |
35,201 |
| Total Discretionary Outlays |
41,978 |
45,948 |
46,857 |
| Total Mandatory Outlays |
457 |
(3,112) |
(2,453) |
| Total Outlays |
42,435 |
42,836 |
44,404 |
FY 2008 Budget
Best Known For:
- Hurricane Katrina recovery in the Gulf Coast
- Helping low and moderate income Americans become homeowners
- Protecting against predatory lending
History:
1937 - U.S. Housing Act of 1937
1965 - Department of Housing and Urban Development Act of 1965 creates HUD as Cabinet-level agency.
1966 - Robert C. Weaver becomes the first HUD Secretary, January 18.
1968 - Riots in major cities follow assassination of Dr. Martin Luther King Jr. Civil Rights Act of 1968 (also known as the Fair Housing Act) outlaws most housing discrimination, gives HUD enforcement responsibility. Housing Act of 1968 establishes Government National Mortgage Association (Ginnie Mae) to expand availability of mortgage funds for moderate income families using government guaranteed mortgage-backed securities.
1973 - President Nixon declares moratorium on housing and community development assistance. James T. Lynn becomes HUD Secretary, February 2.
1974 - Housing and Community Development Act consolidates programs into Community Development Block Grant (CDBG) program. Section 8 tenant-based certificates increase low-income tenants' choice of housing.
1980 - Depository Institutions' Deregulation and Monetary Control Act of 1980 changes rules governing thrift institutions, expands alternative mortgages.
1983 - Housing and Urban-Rural Recovery Act of 1983 begins Housing Development Action Grant and Rental Rehabilitation programs.
1987 - Stewart B. McKinney Act sets up programs to help communities deal with homelessness.
1988 - Indian Housing Act gives HUD new responsibilities for housing needs of Native Americans and Alaskan Indians. Housing and Community Development Act allows sale of public housing to resident management corporations. Fair Housing Amendments Act makes it easier for victims of discrimination to sue, stiffens penalties for offenders.
1990 - Cranston-Gonzalez National Affordable Housing Act emphasizes homeownership and tenant-based assistance, launches HOME housing block grant. Low-Income Housing Preservation and Residential Homeownership Act of 1990 fortifies Federal commitment to preservation of -assisted low-income, multifamily housing.
1992 - Federal Housing Enterprises' Financial Safety and Soundness Act of 1992 creates HUD Office of Federal Housing Enterprise Oversight to provide public oversight of FNMA and Federal Home Loan Mortgage Corporation (Freddie Mac).
1995 - "Blueprint for Reinvention of HUD" proposes sweeping changes in public housing reform and FHA, consolidation of other programs into three block grants.
1998 - HUD opens Enforcement Center to take action against HUD-assisted multifamily property owners and other HUD fund recipients who violate laws and regulations. Congress approves Public Housing reforms to reduce segregation by race and income, encourage and reward work, bring more working families into public housing, and increase the availability of subsidized housing for very poor families.
Key Agencies: