Contact: Dan Stern, (202) 842-8600 x137
Washington, DC, January 17, 2014 – Since the 1950s, the United States Department of Agriculture has financed the construction, repair, and affordability of millions of homes for low- and moderate-income rural Americans. This activity is accomplished primarily through its Rural Development (RD) agency (formerly the Farmer’s Home Administration). The Housing Assistance Council (HAC) has been tracking USDA loan and grant obligation activity for many years. Today, HAC announces the release of its report entitled “Fiscal Year 2013 USDA Rural Housing Program Obligations.”
This report summarizes USDA obligation data by program area and by State. In addition, the report includes historic activity for selected USDA programs since the inception.
In Fiscal Year 2013, USDA’s Rural Development (RD) Agency obligated approximately $23.4 billion in loans, grants, and loan guarantees which were used to build, purchase, repair, or support 177,387 units of affordable housing for low- and moderate-income families in rural areas. “”Fiscal Year 2013 proved to be an especially challenging year for rural housing programs,” said Moises Loza, HAC’s Executive Director. “An already shrinking pool of federal funding, which was exacerbated by late enactment of funding bills, combined with crippling sequestration cuts to leave many rural communities struggling to house their poorest and most vulnerable populations.”
About the Housing Assistance Council
HAC, founded in 1971, is a nonprofit corporation that supports the development of rural low-income housing nationwide. HAC provides technical housing services, loans from a revolving fund, housing program and policy assistance, research and demonstration projects, and training and information services. HAC is an equal opportunity lender.