In recent weeks, the Administration has taken several steps to advance Pay for Success, an innovative approach for the government to partner with philanthropic and private investors to fund proven and promising practices, significantly enhancing the return on taxpayer investments. Under this model, these organizations provide the up-front capital for social services with a strong evidence base that, when successful, achieve measurable outcomes that improve the lives of families and individuals and reduce their need for future services. Government pays when these measurable results are achieved.
This week, the Department of Housing and Urban Development (HUD) announced it will provide $5 billion in grant dollars to assist in the rebuilding and strengthening effort following Hurricane Sandy and encouraged the five states impacted by the storm to make use of evidence-based, Pay for Success strategies where appropriate.
This funding will create new opportunities to rebuild damaged infrastructure, stronger than it was before the storm. Possible projects include management of increased storm water, reducing future flood damage, and protecting water treatment facilities.
Fonte: White House