HAC News: May 14, 2014
HAC News Formats. pdf
May 14, 2014
Vol. 43, No. 10
• House subcommittee approves cuts for FY15 HUD spending • Lisa Mensah nominated as USDA Under Secretary for Rural Development • CDFI Fund offers bond guarantees • CFPB proposes mortgage rule amendments • Manufactured housing label fee increase proposed • FHFA Director addresses Fannie Mae and Freddie Mac’s future • VA proposes changes, including homeless definitions, for two programs
May, 2014
Vol. 43, No. 10
House subcommittee approves cuts for FY15 HUD spending. On May 7 the House Transportation-HUD Appropriations Subcommittee passed a spending bill that reduces HOME by 30% from 2014 and cuts fair housing, HOPWA, lead-hazard control, public housing capital, and project-based rental assistance. The Center on Budget and Policy Priorities estimates the bill’s funding probably would not be enough to renew all Housing Choice Vouchers. The bill includes HUD’s SHOP program as part of HOME, following a recommendation in the President’s budget. The full House Appropriations Committee is expected to act during the week of May 19. [tdborder][/tdborder]
| HUD Program (dollars in millions) |
FY13 |
FY14 |
FY15 |
FY15 |
|
Cmty. Devel. Fund |
3,308 |
3,100 |
2,870 |
3,060 |
|
HOME |
1,000 |
1,000 |
950 |
700 |
|
Self-Help Homeownshp. (SHOP) |
13.5 |
10 |
c |
c |
|
Tenant-Based Rental Asstnce. |
18,939.4 |
19,177.2 |
20,100 |
19,356 |
|
Project-Based Rental Asstnce. |
9,339.7 |
9,516.6 |
9,346 |
9,346 |
|
Public Hsg. Capital Fund |
1,886 |
1,875 |
1,925 |
1,775 |
|
Public Hsg. Operating Fund |
4,262 |
4,400 |
4,600 |
4,400 |
|
Choice Neighbrhd. Initiative |
120 |
90 |
120 |
0 |
|
Housing Trust Fund |
d |
d |
1,000 |
0 |
|
Native Amer. Hsg. Block Grant |
650 |
650 |
650 |
650 |
|
Homeless Assistance Grants |
2,033 |
2,105 |
2,406.4 |
2,105 |
|
Rural Hsg. Stability Prog. |
e |
e |
e |
e |
|
Hsg. Opps. for Persons w/ AIDS |
334 |
330 |
332 |
303 |
|
202 Hsg. for Elderly |
377 |
385.3 |
440 |
420 |
|
811 Hsg. for Disabled |
165 |
126 |
160 |
135 |
|
Fair Housing |
70.8 |
66 |
71 |
46 |
|
Healthy Homes & Lead Haz. Cntl. |
120 |
110 |
120 |
70 |
|
Housing Counseling |
45 |
45 |
60 |
45 |
a. Figures shown do not include 5% sequester. b. Funded under separate Self-Help & Assisted Homeownership Opportunity Program. c. Funded as a setaside in HOME. d. National Housing Trust Fund is “mandatory” funding, not discretionary, so does not need to be funded through appropriations legislation, although the Administration did include it in the budget request. e. Funded under Homeless Assistance Grants. |
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Lisa Mensah nominated as USDA Under Secretary for Rural Development. Mensah, currently executive director of the Aspen Institute Initiative on Financial Security, needs to be confirmed by the Senate. Deputy Under Secretary Doug O’Brien is currently Acting Under Secretary.
CDFI Fund offers bond guarantees. Certified CDFIs can apply by June 23 to become Qualified Issuers in the CDFI Bond Guarantee Program and by June 30 to receive bond guarantees. Email bgp@cdfi.treas.gov.
CFPB proposes mortgage rule amendments. Comments are due June 5 on suggested changes including some new nonprofit exemptions and July 7 on other specified topics. Contact Pedro De Oliveira, CFPB, 202-435-7700.
Manufactured housing label fee increase proposed. Comment by June 2 on HUD’s request to raise the fee for each new section from $39 to $95-$105. Contact Pamela B. Danner, HUD, 202-708-6423.
FHFA Director addresses Fannie Mae and Freddie Mac’s future. In a May 13 speech, Mel Watt presented a strategic plan for ongoing conservatorship. He mentioned increasing activity in small multifamily properties and manufactured home communities, and did not address the not-yet-implemented duty to serve underserved markets including rural areas, or the National Housing Trust Fund.
VA proposes changes, including homeless definitions, for two programs. Comments are due June 23 on Supportive Services for Veteran Families (contact John Kuhn, 877-737-0111) and in July on Health Care for Homeless Veterans (to be published in the May 15 Federal Register; contact Robert Hallett, 781-687-3187).