David Chow, chief information officer at the Department of Housing and Urban Development, told Federal News Network in an interview published Friday that the Centers of Excellence program and the Technology Modernization Fund are part of HUD’s efforts to transform its financial profile.
The report said HUD received $5M in September as the first installment of the $20M loan approved by the TMF board.
Chow said the department will use the funds to update its mainframe technology platform and transition critical applications to the cloud.
“We are looking at completing this within 24 months, but starting in 2021 we will start realizing cost savings for anywhere from $6M to $8M a year,” he told the publication’s Ask the CIO program.
Chow noted that the department continues to implement planning and acquisition processes to select its preferred contractor.
HUD was selected by the General Services Administration in September to serve as the second host agency for the five CoEs that seek to advance information technology modernization across cloud, customer experience, infrastructure optimization, contact centers and service delivery analytics areas.