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    Department of Housing and Urban Development (HUD)

    451 7th Street S.W.
    Washington, DC 20410
    (202) 708-1112

    The Department of Housing and Urban Development (HUD) is United States federal agency that develops and maintains affordable housing in urban areas. Established in 1965 by President Lyndon B. Johnson, in practice, HUD is a government-owned real estate developer, property manager, and mortgage lender. The agency builds no-frills housing for poor people in collaboration with private developers as well state and city governments. It disperses grants to the poor to be used as down payments to buy cheap homes and to pay for closing costs. HUD also provides mortgage re-financing for homeowners at risk of being foreclosed upon. Many HUD owned and managed properties have fallen into disrepair, earning it the title of New York City's worst landlord" by the Village Voice. HUDs annual budget is about $50 billion. In New York, the agencys largest development project was the 5,881-unit Starrett City complex on Jamaica Bay in Queens. Julian Castro has served as HUD secretary since 2014. He succeeded Shaun Donovan, who led the agency from 2009 to 2014. -TA