HUD details plan to release $16 billion in disaster mitigation funds

HUD announced last year that it was awarding a record $28 billion in funds to help states recover from natural disasters. Part of that sum included $16 billion that would be earmarked to fund mitigation efforts in hard-hit areas. Now, the department is getting ready to release its plan for the disbursement of those disaster funds, with senior HUD officials revealing Friday that the $16 billion will be released in two separate tranches.