Woodbridge Housing Authority
Capital Fund Program
The Capital Fund Program (CFP) is looked upon as an ongoing process of relating decisions regarding investments of capital to the stated mission of the local agency as reflected in its most recent PHA Plan as required by the Quality Housing and Work Responsiblity Act (QHWRA). A copy of the most recent Annual Statement (FY2012 Annual Plan) may be viewed
The Capital Fund Financing Program (CFFP) permits the Public Housing Authority (PHA) to borrow private capital and pledge future year CFP to debt service. PHAs must obtain prior written approval from HUD (Housing and Urban Development) to pledge, collateralize or grant a mortgage on public housing assets. HUD Approval is given specifically and only by the Assistant Secretary for Public and Indian Housing. The PHA has utilized this method of financing to complete heating system upgrades (family housing), re-roofing and window replacements (family housing) among other projects.
More recently, the Capital Fund Program's Annual and Five Year plans include replacement of kitchen cabinets (Finn Towers) as well as new windows in several other Senior Housing Units (Cooper, Olsen and Stern Towers), which includes the involvement of Constellation Energy as the Authority's Energy Performance Contract (EPC) partner, or ESCO, to implement another HUD sponsored program. This program provides for Energy Conservation Measures (EMCs) that will enable the Authority to save on utility expenses. Potential EMCs include lighting, water, co-generation (Adams & Finn Towers), boiler controls (Senior Housing), wind turbines (Adams & Finn Towers) and exterior wall insulation at Woodbridge Garden Apartments (family housing).