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HOPE VI has included a variety of grant programs including: Revitalization, Demolition, Main Street, and Planning grant programs. As of June 1, 2010 there have been 254 HOPE VI Revitalization grants awarded to 132 housing authorities since 1993 – totaling more than $6.1 billion. [3]
The Hope VI program, created in 1992, was initiated in response to the physical deterioration of public housing units. The program rebuilds housing projects with an emphasis on mixed-income developments rather than projects which concentrate poorer households in one area. [67]
The program, whose $10,000 incentives are funded by the George Kaiser Family Foundation, was a way to diversify the economy of a city with no major university in the area and few economic reasons ...
In 1994 the Atlanta Housing Authority, encouraged by the federal HOPE VI program, embarked on a policy created for the purpose of comprehensive revitalization of severely distressed public housing developments. These distressed public housing properties were replaced by mixed-income communities. [1]
Since the program's inception, the Trust has assisted more than 7,000 first-time homeowners with low-interest second mortgages, helped construct 15,000 units of affordable rental housing. [35] The Trust funds programs for first or second mortgages, property acquisition for affordable housing cooperatives, or new construction. However, new ...
On the national level, concerns about the state of public housing had led Congress to appropriate funds for HOPE VI, a program designed to revitalize public housing. [19] In 1993, Atlanta won the first HOPE VI grant to renovate and modernize Techwood and Clark Howell Homes.
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