My research of additional funding sources to leverage Ayer's CPA funds led me to explore the funds that may be available through the American Recovery and Reinvestment Act (ARRA). The Commonwealth has launched a website tracking the ARRA funds that are being allocated to Massachusetts. The site includes the March 6th announcement that $437.9 million can be spent on transportation projects and an additional $319 million for Regional Transit Authorities and the Massachusetts Bay Transportation Authority. In addition, Massachusetts is expected to receive between $6 and $9 billion in ARRA funds for education, health care, public safety, housing, and other programs.
One of the ARRA funded programs that could potentially pair with CPA funds is the Energy Efficiency and Conservation Block Grant program (EECBG). EECBG program is receiving $3.2 billion for FY09. CPA funds that are used to support existing affordable housing, such as a grant to a local housing authority to be used for energy efficiency improvements, seem to be a good fit to leverage EECBG funds since eligible activities include residential building energy audits and grants for energy efficiency retrofits. Twenty-eight percent of the funds are being allocated to states for distribution to existing programs and also competitively to projects.
In addition, the $2 billion allocated to the Neighborhood Stabilization Program, which provides grants through the Community Development Block Grant Program, can be used to purchase and resell foreclosed or vacant properties as affordable housing (another CPA-eligible activity to "create" community housing). The National Trust for Historic Preservation has an analysis of ARRA that has a bit more information on the Neighborhood Stabilization Program.