Announcements
Jennifer Emerling / There Is More Work To Be Done
Jennifer Emerling / There Is More Work To Be Done
FY10 Preservation
RURAL RENTAL PRESERVATION LEGISLATION INTRODUCED
H.R. 2876, the Rural Housing Preservation Act, has been introduced by 18 House sponsors. Similar to H.R. 4002 from the last Congress, the bill would amend the Section 515 program to create a new preservation program like USDA’s Multi-Family Housing Preservation and Revitalization (MPR) demonstration. The bill also would require continued affordability for low-income tenants for 30 years or the term of USDA’s loan for any property participating in revitalization, and cap rents for all tenants in revitalized properties at 30 percent of income. USDA would provide Section 542 vouchers as necessary.
Sponsors of the bill include Reps. Lincoln Davis (D-TN), Dan Boren (D-OK), Rick Boucher (D-VA), Leonard Boswell (D-IA), Corrine Brown (D-FL), Artur Davis (D-AL), Danny Davis (D-IL), Geoff Davis (R-KY), Bob Filner (D-CA), Barney Frank (D-MA), Maurice Hinchey (D-NY), Ruben Hinojosa (D-TX), Paul Hodes (D-NH), Eric Massa (D-NY), Ciro Rodriguez (D-TX), Heath Shuler (D-NC), Paul Tonko (D-NY), and Charles Wilson (D-OH).
The House Committee on Financial Services is expected to hold hearings on the bill soon, and possibly to combine it with other preservation legislation on HUD programs.
For the full bill, visit https://thomas.loc.gov.
For more information, visit HAC’s Rural Rental Preservation page.
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Posted: June 17, 2009
If you have problems accessing any of the material on this page, contact Leslie Strauss at HAC, leslie@ruralhome.org, 202-842-8600.