President Bush Signs FY 2008 Funding Bill

By Caitlin Jones & A. J. Johnson
July 25, 2008 1 min read

President Bush on 12/26/07 signed into law a consolidated omnibus spending bill (H.R. 2764) to fund federal departments and agencies for the rest of the fiscal year (FY 2008) ending 9/30/08. It provides $37.6 billion for the U.S. Department of Housing and Urban Development (HUD) and its programs, an increase of $1.4 billion over the FY 2007 funding level. Included in this are: $6.4 billion for HUD Section 8 project-based rental assistance, $405 million more than FY 2007; $16.4 billion for Housing Choice Vouchers (+$516 million); and $1.704 billion for the HOME program (-$53 million).
The act also provides $70 million for the Rural Development (RD) Section 515 rural rental housing loan program (-$29 million); $130 million for the Section 538 rural rental housing guaranteed loan program (+$30 million); $5 billion for rural housing vouchers (-$11 million); and $23 million for the Section 515 multifamily preservation demonstration program (+$14 million). The Housing Assistance Council said the act adds RD Section 514/516 farmworker housing projects to properties eligible for RD’s Multi-Family Housing Preservation and Revitalization Restructuring Program.

Leveraging NMTC and GGRF

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Jennifer Kirkley & Regan St. Pierre • September 13, 2024 6 min read

Increasingly, climate solutions are central to preserving and creating wealth and well-being in communities across the country.

What Can Be Done About Insurance?

NH&RA Panelists Explore Ways to Rein in High Insurance Costs for Affordable Housing

Pamela Martineau • September 1, 2024 6 min read

Meet with your underwriter in person, provide as much data as possible on relevant inspections and offer photos of improvements you’ve made to affordable housing properties. These were just a few of the tips offered at the National Housing & Rehabilitation Association’s Summer Institute Panel: “What Can Be Done About Insurance?”

Rainbow Housing: Transforming Resident Services from Within

Abram Mamet • September 1, 2024 9 min read

For most organizations, radical shifts in market strategy and company makeup generally come after crises. For Rainbow Housing Assistance Corporation (Rainbow), that radical shift came not as a result of significant challenges, but as a way to leverage successful internal practices to better serve the affordable housing industry.