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Project-Based Section 8 and
Subsidized MortgagesReturn to
the main Public Policy page
Legislation and Policies
- Preservation-Related Provisions of the Housing and Economic
Recovery Act . The foreclosure response package signed by the
President on 7/30/08 includes several important provisions that affect the
ability to preserve and improve existing HUD or RD assisted multifamily
rental housing.
Click here for
the summary.
- National Housing Trust Testifies Before the Democratic Party's
National Platform Committee. The National Housing Trust
testified on the importance of protecting affordable rental housing and
achieving a balanced national housing policy. The hearing on August 1st,
2008 was the first step in developing the Democratic Party's official
position on a wide variety of issues. TheTrust submitted a letter to the
Democratic and Republican National Committees requesting that the party
platforms reflect the urgent need to safeguard our nation's affordable
rental homes. Click here
for the testimony.
- NHT President, Michael Bodaken, Testifies Before the House
Financial Services Committee on the Need to Preserve Affordable Rental
Housing. On June 19, 2008, Michael Bodaken testified before the
House Financial Services Committee on the urgent need to safeguard our
nation’s federally subsidized affordable rental housing. Bodaken
addressed the need for comprehensive policy reform to support responsible
long-term affordable housing ownership, encourage and streamline sales and
transfers of at-risk affordable rental properties to qualified
preservation owners, and provide support to existing families and seniors
who wish to remain in their homes if affordability requirements end. He
submitted a detailed list of policy recommendations to the Committee on
behalf of the National Housing Trust and the National Preservation Working
Group, a coalition of 24 organizations supporting affordable rental
housing.Click here for
the full testimony.
- NHT President, Michael Bodaken, Testifies on the Importance of
Fully Funding Project-Based Section 8 Contracts. On April 23,
2008, Michael Bodaken testified before the House Transportation-HUD
Appropriations Subcommittee on the need to fully fund the project-based
Section 8 program, stating: "Failure to fully fund Section 8 contracts is
undermining owner confidence in the federal government’s commitment and
threatening billions of dollars in private sector investment that is
essential for rehabilitating and preserving affordable housing.
Click here for
the full testimony.
-
Legislation Introduced to Improve Section 202 Elderly Housing. Congressman Tim Mahoney (D-FL) has introduced the Section 202 Supportive
Housing for the Elderly Act of 2007. The bill would help preserve the
existing supply of affordable housing for seniors by allowing property
owners to seek financing for the rehabilitation and improvement of current
housing, while keeping costs low for their residents.
Click here for a one-pager
on the bill.
Click here for the
legislation
- Legislative Provisions to Support the Preservation of Affordable
Housing.
The National
Preservation Working Group- a collaboration of tenants, advocates,
developers, and owners all driven by a sense of urgency about the need to
preserve affordable housing- has delivered to Congress a set of targeted
legislative recommendations that would preserve tens of thousands of
federally assisted and insured, affordable rental homes.
Click here for the list of legislative proposals
- An Emerging Preservation Dilemma: Non HUD- Insured State Agency
Financed Properties with Expiring Section 8 Contracts. This short
issue brief explains the issue of non HUD-insured HFA properties with
expiring Section 8 contracts and includes a map showing where contracts
are expiring in the next ten years.
Click here for the one-pager.
Click
here to for state lists of these properties
- Congress should permit owners to convert Rent Supp and RAP
subsidies to project-based Section 8 assistance and safeguard more than
35,000 affordable housing units.
Click here for more
information
-
NHT Calls on HUD to Create an "Early Warning System"
to Help Save Affordable Housing. The
federal government should provide information on Section 8 opt out
and mortgage prepayment requests to mission minded developers so this housing stands a chance of
being preserved. We call on HUD to establish a national database that
would track these requests. The database would serve as an “Early Warning
System”, informing preservation minded organizations when affordable
housing is at risk of being converted to market rate.
One-page issue brief on
the need for an "Early Warning System"
- The Mark-to-Market Program. On September 30, 2006, legislative
authority for HUD’s Mark-to-Market (M2M) mortgage restructuring program
expired. Without action by Congress to extend the program, units with
HUD-approved rents that exceed comparable market rents face an uncertain
fate.
Legislation to Extend
Mark-to-Market Program Introduced
Testimony of NHT Vice
President Scott Kline
in support of Extension
- HUD Subsidized Mortgages. Among the threats to existing
federally assisted affordable housing are the prepayment and maturation of
HUD subsidized mortgages.
Testimony on the issue of
maturing mortgages
GAO's 2004
analysis of maturing subsidized mortgages
- Congress Requires HUD to Maintain Subsidies on Foreclosed
Properties (Referred to as the “Schumer Amendment” or “Section 311”).
One-page summary of the policy
Articles and Publications
- Preserving
Opportunities: Saving Affordable Homes Near Transit.
Preserving affordable housing near transit means more than simply saving a
building—it means preserving opportunities for low-income families and
seniors to access jobs and services. Reconnecting America and the National
Housing Trust identified federally assisted affordable housing located in
close proximity to existing or proposed public transportation in 8 cities:
Boston, Chicago, Cleveland, Denver, New York City, Portland, St. Louis,
and Seattle (See attached maps). More than 100,000 federally assisted
housing units sheltering more than 300,000 individuals in these cities are
located in transit rich neighborhoods.
-
Project-Based Rental Assistance Units by State and Program Type.
This report summarizes the number of project-based rental assistance units
by state and program type. Please note, the report does not include all
subsidized housing units, but only properties with project-based rental
subsidy contracts through HUD’s multifamily programs. The report also
includes the number of assisted units expiring before the year 2012. Data
are as of February 2007.
Full report
List of lost units by state
Summary table of Section 8 opt outs
Summary table of prepayments
Section 8 opt out data by state
Prepayment data by state
Case Studies
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