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Revere public housing families will benefit from renewal of federal HUD grant targeting Financial Stability and Self-Sufficiency

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City and federal officials working to forge path for economic independence for Revere residents

 By Steve Freker

With the help of a renewed federal grant coming Revere’s way, a number of families in federal public housing units will be receiving resources to support efforts to help them achieve economic independence and self-sufficiency.
The Boston office of the federal U.S. Department of Housing and Urban Development (HUD) announced this week that over $128 million to 835 Public Housing Agencies (PHAs) and Project Based Rental Assistance (PBRA) owners for the 2023 Renewal and New Family Self Sufficiency (FSS) Program grants.
Specifically in Revere, a grant of $83,000 has been renewed through the efforts of the office of Mayor Patrick Keefe and the federal delegation of U.S. Rep. Katherine Clark and Senator Ed Markey.
According to HUD, this funding highlights the agency’s continued efforts to support families by providing financial resources to achieve economic independence. Public Housing Agencies and PBRA owners in Massachusetts received $7.6 million altogether.
“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.”
“This funding will empower HUD’s housing partners in (STATE) to collaborate directly with low-income residents, enabling them to enact positive transformations in their lives,” stated HUD New England Administrator, Juana B. Matias.
“The Family Self-Sufficiency Program is instrumental in fostering individual success and cultivating sustainable, self-reliant lifestyles. It stands as a cornerstone of the Biden-Harris administration’s commitment to fostering economic mobility and ensuring that every American has the opportunity to pursue and realize their American Dreams.”
The FSS program is a voluntary initiative offered to families in HUD-assisted housing. Participants receive coaching, referrals to services, and establish a family escrow savings account. FSS Program Coordinators provide coaching and develop local strategies to connect participating families with public and private resources.      These resources aim to increase their earned income and financial empowerment, reduce or eliminate the need for welfare assistance, and facilitate progress toward economic independence and self-sufficiency.
“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.”
According to HUD officials, “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.
“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.   The FSS program helps to keep the unexpected from becoming larger financial problems through savings and support.”

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