U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan has unveiled a ‘strategic plan‘ that he says will serve as the agency's road map though fiscal-year 2015.
‘This strategic plan isn't just a paper exercise to produce a set of marching orders, but a real attempt to express what we want our agency, our homes and our neighborhoods to look like in the years to come,’ said Donovan during his address to all HUD staff nationwide. ‘The plan sets out clear goals and defines success as we take HUD to its 50th anniversary in 2015.’
The plan outlines five goals. Among the objectives listed are strengthening the housing market by reducing the foreclosure rate, increasing the Federal Housing Administration capital reserves to above 2% and helping communities purchase abandoned and vacant properties; balancing the support for sustainable homeownership and rental housing by directly contributing to the production of millions of new rental homes; and using technology and improved accessibility to data to make federally subsidized housing a catalyst for investments in education, health and job training.
Donovan also said HUD will build capacity, improve performance management and accountability, decentralize decision-making, and simplify programs, rules and regulations.