10.9% Increase in HUD Funding
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This email from the Center on Budget and Policy Priorities hit my inbox.
On December 16, the President signed into law an omnibus funding bill for fiscal year 2010 that includes funding for affordable housing and community development programs administered by the Department of Housing and Urban Development (HUD). This law provides a total of $46.1 billion for HUD for fiscal year 2010, an increase of $4.5 billion (10.9 percent) above the 2009 level and $578 million (1.3 percent) above the President’s request.
The following are the highlights of the 2010 funding law for the three major federal rental assistance programs:
· Housing Choice Vouchers: the funding law provides $18.18 billion for housing vouchers, including up to $16.34 billion for voucher renewals, both considerable increases over 2009 funding levels. When combined with available funds carried over from the current year, this amount is probably sufficient to renew all vouchers used by families in 2009, according to the Center’s analysis of program cost data. (See the link below for more details.)· Public Housing: $4.78 billion is included for the Operating Fund, an increase of 7 percent above the 2009 level. This amount likely will fund agencies at or close to 100 percent of their eligibility under HUD’s operating formula, according to the Center’s current estimates. Agencies have not received full operating funding since 2002. The bill also provides$2.5 billion for the Capital Fund, $50 million above the 2009 funding level. HOPE VI is funded at $200 million, although $65 million of this amount is set aside for the Administration’s Choice Neighborhoods Initiative.
· Section 8 Project-Based Rental Assistance: $8.55 billion is provided for 2010, including an advance appropriation of $394 million for fiscal year 2011. The total includes $8.33 billion for contract renewals, an increase of $1.1 billion, or nearly 15 percent.
A more detailed review of the HUD funding law for 2010 is available for download at: http://www.cbpp.org/files/2010-housing-funding.pdf.
