The Capital Fund Program plays an important role in sustaining and improving public housing across the United States. For organizations like the Portage Metropolitan Housing Authority (PMHA), it provides essential resources to ensure safe, affordable housing for Portage County residents. Whether you’re researching “what is capital funding?” or want to know more about how public housing improvements impact your community, this guide has the answers!
What is the Capital Fund Program?
The Capital Fund Program (CFP) is a federally funded initiative under the U.S. Department of Housing and Urban Development – also referred to as the HUD Capital Fund. The program provides an annual fund for public housing to support agencies with the development, financing, and modernization of public housing developments while also supporting management improvements. This capital grant funding program ensures that public housing authorities (PHAs) like PMHA can maintain and improve public housing to meet the needs of their communities.
How Public Housing Authorities Utilize Capital Funds
PHAs rely on the HUD Capital Fund to ensure they can maintain, upgrade, and support high-quality public housing initiatives for low-income families, seniors, and individuals with disabilities. Every dollar is allocated to better serving our local communities. Funds from the program can be used to:
- Modernize Housing Units – Updating aging infrastructure like electrical systems and plumbing to meet current standards and improve liability
- Ensure Accessibility and Safety – Installing ramps, elevators, security systems, and other features to enhance safety and compliance
- Improve Energy Efficiency – Introducing energy-efficient appliances, windows, and lighting to reduce utility costs
- Fund New Development Projects – Expanding housing availability through the construction of new units or communities to better serve local residents
- Support Routine Maintenance – Preserving property value and ensuring functionality through consistent repairs and upkeep
- Enhance PHA Management – Investing in staff training, modernizing systems, and streamlining operations to enhance service delivery
How is the program funded?
Funding from the program comes directly from the U.S. Department of Housing and Urban Development. Each year, HUD strategically allocates resources to PHAs, like the Portage Metropolitan Housing Authority, through a comprehensive evaluation process that considers property conditions, housing unit inventory, community demographics, and specific infrastructure needs. Additionally, PHAs can supplement annual allocations of the HUD Capital Fund with a Capital Fund loan to complete larger-scale projects or renovations that enhance the quality and sustainability of public housing developments.
How PMHA Puts Capital Funds to Work
The Portage Metropolitan Housing Authority has a long-standing commitment to improving our public housing program by leveraging public housing funding initiatives. As a Portage County housing authority invested in our local community for over five decades and counting, PMHA ensures this public housing fund is carefully managed. PMHA has utilized the HUD Capital Fund Program for exterior renovations at several multifamily sites, central air conditioning installations to improve comfort, furnace upgrades to increase energy efficiency and reduce costs for PMHA housing, and many more valuable investments.
The Impact on Our Community
The Portage Metropolitan Housing Authority plays a vital role in ensuring residents have access to quality, affordable housing. By utilizing this public housing fund, PMHA has maintained and improved housing options for countless families, seniors, and individuals with disabilities.
With support from the HUD Capital Fund, PMHA addresses local housing challenges while providing access to essential programs that promote self-sufficiency, economic stability, and improved quality of life for low-income Portage County residents.
Contact Us Today!
The Portage Metropolitan Housing Authority is here to support your housing needs. Whether you’re seeking public housing in your area, searching houses for rent in section 8, or looking to learn more about this capital grant funding program, we encourage you to contact PMHA today.