$3.2M awarded to Virginia to increase financial security of families in assisted housing

The U.S. Department of Housing and Urban Development announced grant awards today aimed to help families achieve economic independence by providing financial resources.

Virginia received $3.2 million in assistance. Nationwide, HUD provided more than $128 million to 835 agencies.

Virginia Public Housing Agencies and Project Based Rental Assistance owners received $674,000 in 2023 Renewal and new Family Self Sufficiency, or FSS, program grants. Waynesboro and Harrisonburg apartment communities received assistance.

The FSS program is a voluntary initiative offered to families in HUD-assisted housing. Participants receive coaching, referrals to services and may establish a family escrow savings account.

“Financial literacy, job training and educational opportunities are some of the resources the FSS program connects HUD-assisted families to so that they have the chance to find employment and build assets,” said HUD Secretary Marcia L. Fudge. “HUD remains committed to working with our local partners to empower residents and promote economic justice for all Americans.”

A FSS program coordinator provides coaching and develops local strategies to connect participating families with public and private resources. These resources aim to eliminate the need for welfare assistance and facilitate progress toward economic independence and self-sufficiency.

“The FSS program stands as a beacon of hope for families in HUD-assisted housing, offering more than just assistance; it provides a pathway to prosperity,” said HUD Regional Administrator Matthew Heckles. “With dedicated coaching, access to essential services and the establishment of family escrow savings accounts, participants are empowered to chart their course towards economic independence.”

The FSS program is the nation’s largest asset-building program for low-income families, funding more than 1,450 coordinators, who will serve nearly 70,000 residents in public, voucher and multifamily housing.

Unequal access to savings, negative or invisible credit history and low relative engagement in mainstream banking are national problems that especially impact renters and contribute to the racial wealth gap, according to HUD.

This leaves renters with a minimal safety net to draw from in times of unemployment or unanticipated expenses such as car repair or medical emergencies. This program helps to keep the unexpected from becoming larger financial problems through savings and support.

“Regardless of how much money one might make, where they live, whether or not they receive assistance, every person in this country deserves to have the sense of security for their families that comes with consistent saving,” said Principal Deputy Assistant Secretary Richard Monocchio. “We are thrilled to offer the benefits of the FSS program to more participants than ever before.”

Public Housing Agencies and Project Based Rental Assistance awards

• Harrisonburg: Harris Garden Apartments, $122,568
• Waynesboro: Parkway Village Apartments, $101,920
• Front Royal: Royal Arms Community Partners, $101,066
• Richmond: Midlothian Community Partners, $126,157
• Accomack: Accomack-Northampton Regional Housing Authority, $106,078
• Richmond: Virginia Housing Development Authority, $116,865

FSS renewal award recipients