Waters Celebrates 50th Anniversary of the Department of Housing and Urban Development

Jo-Carolyn Goode | 9/9/2015, 12:27 p.m.
Today, September 9, 2015, marks the 50th anniversary of the U.S. Department of Housing and Urban Development’s (HUD) founding. In ...
Congresswoman Maxine Waters

Washington, D.C. – Today, September 9, 2015, marks the 50th anniversary of the U.S. Department of Housing and Urban Development’s (HUD) founding. In commemoration of this milestone, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, commended HUD for its unparalleled work expanding opportunity and providing safe, decent, and affordable housing for millions of families across the country.

Congresswoman Waters also reiterated the importance of HUD, noting that the agency’s work is more important today than ever before.

She released the following statement.

“Fifty years after its founding, HUD remains a critical part of our nation’s social safety net and remains an essential part of ensuring that families have a stable roof over their heads.

Whether providing critical rental and homeless assistance for our country’s most vulnerable populations, making important investments in local community development and affordable housing initiatives, or helping millions of families achieve the American Dream of homeownership, HUD has been there – consistently – to support our poorest and historically disadvantaged communities.

In my role as the Chairwoman of the Subcommittee on Housing and Community Opportunity, I was honored to work with HUD to preserve and rehabilitate public housing, reauthorize critical homelessness assistance programs, to support the Federal Housing Administration (FHA) in its mission to expand homeownership, and to rebuild the Gulf Coast after the devastation caused by Hurricane Katrina.

Additionally, in the aftermath of the recent financial crisis, I was pleased to partner with HUD to help deliver much needed assistance to the families most devastated by the economic collapse. As part of 2008 legislation, I authored legislation that created the Neighborhood Stabilization Program, which has infused over $7 billion into local communities across the country to rehabilitate foreclosed homes and breathe new life into distressed communities; nearly $230 million of which went to the Los Angeles region.

Today, as Ranking Member of the Committee on Financial Services, I see firsthand how HUD supports American communities by providing housing assistance to more than 35 million individuals, helping 44 million families obtain affordable, sustainable mortgages through FHA, and investing over $144 billion in state and local economic development projects through the Community Development Block Grant program, or CDBG.

For the past five decades, HUD has truly been a Department of Opportunity, helping Americans build stronger, safer, healthier, and more sustainable communities. It is my firm belief that HUD can and will continue to make a difference for America’s cities, towns, and rural communities, and help Americans achieve the opportunity to pursue their dreams, provided that Congress adequately fund HUD programs. We have a lot of work ahead of us to give every person in this country, regardless of their identity or geography, new opportunities to thrive. I congratulate HUD for its history of dedicated service to America, and will continue my support in the years ahead.”

Congresswoman Waters, as the top Democrat on the Financial Services Committee, continues to fight for HUD programs, helping to ensure that this critical government agency continues to support America’s working families and communities. As HUD enters its 50th year, Waters and Financial Services Democrats remain committed to helping HUD ensure access to safe, decent, and affordable housing and strong communities for all Americans.

See HUD’s website on the 50th Anniversary.

For more information, visit http://democrats.financialservices.house.gov/issues/keeping-housing-affordable-and-accessible.htm