Housing And Urban Development (HUD) Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Housing And Urban Development (HUD), written in plain English, along with examples of how it is used.
What is Housing And Urban Development (HUD)?
“Federal agency that enforces the Fair Housing Act which is a federal mandate that prohibits housing discrimination on the basis of color, race, sex, nationality, religion, or disability.
History and Meaning of Housing And Urban Development (HUD)
The Housing And Urban Development (HUD) is a department of the United States government that was established in 1965 as a result of the Housing and Urban Development Act. The purpose of this agency is to create strong, sustainable and inclusive communities through affordable housing, economic development, and by enforcing the Fair Housing Act. It plays a vital role in ensuring that everyone has access to safe and affordable housing, especially for disadvantaged groups who might otherwise face discrimination and displacement.
HUD offers a wide range of programs and initiatives, which include funding for affordable housing developments, enforcing the Fair Housing Act, offering home-buying assistance and rental subsidies to low-income families, and disaster relief for homeowners affected by natural disasters. Additionally, HUD offers education and training initiatives for homebuyers and renters, in order to help them make informed decisions.
Examples of Housing And Urban Development (HUD)
- The HUD approved a grant of $1 million to fund the renovation of an abandoned apartment complex in a low-income neighborhood.
- A discriminatory landlord was fined by HUD for refusing to rent to families with children.
- The homeowner received a loan from HUD to help with the cost of repairing damages caused by a natural disaster.
- A first-time homebuyer received a loan and counseling from HUD to help them navigate the home-buying process.
- A developer applied for funding from HUD to build a new affordable housing development in a high-need area.
Legal Terms Similar to Housing And Urban Development (HUD)
- The Fair Housing Act: A federal law that prohibits housing discrimination based on race, color, national origin, religion, sex, familial status, or disability.
- Low-Income Housing Tax Credit (LIHTC): A tax credit for developers who build and operate affordable housing for low-income families.
- Community Development Block Grant (CDBG): A federal grant that provides funds for community development projects in low-income areas.
- Section 8 Housing Vouchers: A program that provides rental assistance to low-income families and individuals.
- Homeownership Assistance Program: A program that provides financial assistance to first-time homebuyers to help with the cost of down payments and closing costs.