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The U.S. Department of Housing and Urban Development (HUD) was created on September 9, 1965, to coordinate the federal government’s efforts to tackle urban issues, such as substandard and deteriorating housing.
President John F. Kennedy launched the initiative, and following his assassination, President Lyndon B. Johnson carried out the consolidation of five independent federal housing and community development agencies:
- The Federal Housing Administration was launched in 1934 to make homeownership possible for first-time homebuyers;
- The Public Housing Administration was established in 1937 to oversee the nation’s public housing;
- The Federal National Mortgage Association (Fannie Mae) was established in 1934 to create a secondary market in home mortgages;
- The Urban Renewal Administration was created in 1949 to direct slum clearance projects in almost 800 communities; and
- The Community Facilities Administration oversaw community development programs, including city planning grants, housing assistance for students and hospital and college employees, and mass transit grants.
Source: Published without changes from Washington Informer Newspaper
