Hope VI facts

• Program was approved in October, 1992. • Fifty-nine implementation grants have been approved to date in 53 cities, disproportionately in older cities in the eastern U.S. • Total cost of program to HUD is $2.5 billion, including demolition and new construction. Actual dollar value of projects will be much higher than $2.5 billion, because funds from other sources often are added to Hope VI grants. • 100,000 public housing units are to be demolished by 2000 • 40,000 replacement units planned • People displaced due to demolitions are provided with housing vouchers.