The well-being of our community matters to HACM. If we were not constrained by U.S. Department of Housing and Urban Development (HUD) rules, we would prefer to spend all our funds in Madera.
As it stands, we are doing well. HACM pays out $374,000.00 monthly in Housing Assistance Payments (HAP) to owners participating in the Housing Choice Voucher (HCV)/Section 8 housing program. That amounts to annual funds of $4.48M to owners. (53% of owners live in Madera).
In addition, through our public housing capital fund and capital reserves, HACM has completed over $1.8M of modernization work over the last three (3) years. A large portion of those funds went to Madera based contractors or suppliers. On top of that, HACM spends the majority of its operating budget (see page 6 for details) in Madera.
HACM has an annual Budget of over $9 million per year - nearly all
of which is restricted funding for affordable housing programs. The
agency also receives operational funding for its housing programs
from the U.S. Department of Housing and Urban Development.