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Chapter 15

Chapter 15. Federal Subsidies and Grants for Housing. 15-1. Learning Objectives. Describe the major federal government programs that are in place to assist low-and moderate-income families in obtaining housing Discuss the motivation behind the programs

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Chapter 15

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  1. Chapter 15 Federal Subsidies and Grants for Housing

  2. 15-1 Learning Objectives • Describe the major federal government programs that are in place to assist low-and moderate-income families in obtaining housing • Discuss the motivation behind the programs • List the restrictions and requirements placed on the recipients of the benefits by the federal government

  3. 15-2 Department of Housing and Urban Development (HUD) • Fights for fair housing • Increases affordability of housing • Reduces homelessness • Promotes jobs and economic opportunity • Empowers people and communities

  4. 15-3 HUD Programs • Community Development Block grants promote economic development and housing rehabilitation • Subsidized Housing, Section 8 provides vouchers for low-income households • Subsidized Public housing provides housing for low-income households • Homeless Assistance through local nonprofit organizations • HOME Investment Partnership Act Block Grants help develop affordable housing

  5. 15-3 HUD Programs Con’t • Fair Housing Act enforces fair housing laws • Mortgage and Loan Insurance • Support of secondary mortgage activities through Ginnie Mae

  6. 15-4 Community Development Block Grant (CDBG) • Established in 1974 to help develop economically depressed areas • Allocates 70% of funds to entitlement communities (populations less than 50,000) and 30% to states • Jurisdiction submits a consolidated plan • Loan guarantee program provides financing to communities

  7. 15-5 Assisted Housing • Section 8 provides rental subsidies through vouchers and certificates • Rent subsidies pay difference between market rent and what tenant can afford to pay • Eligibility is determined by the local housing agency and is based on income and family size

  8. 15-6 Homeless Assistance • Provides funds to state and local governments to assist homeless people • Assistance is carried out through the Office of Community Planning and Development

  9. 15-7 Home Investment Partnerships Program • Created in 1990 and provides funds for affordable housing development • Funds are distributed on a formula basis and administrated on the local level • Funds can be used for home purchase or rehab assistance to low-income families

  10. 15-8 Fair Housing and Enforcement • Enforcement administered by the Assistance Secretary for Fair Housing and Equal Opportunity (FHEO) • FHEO conducts compliance reviews of HUD funds recipients and ensures that HUD programs provide equal opportunity • Helps state and local governments become certified as having substantially equivalent fair housing laws

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