Financial Services Committee Members Send Letter to HUD Regarding Section 8 Project-Based Assistance Program

Press Release

Financial Services Committee Members Send Letter to HUD Regarding Section 8 Project-Based Assistance Program

House Financial Services Committee chairman Barney Frank (D-MA), along with Housing and Community Opportunity subcommittee chairwoman Maxine Waters (D-CA), subcommittee ranking member Shelley Moore Capito (R-WV), along with Reps. Al Green (D-TX), Judy Biggert (R-IL), Emanuel Cleaver (D-MO), and Christopher Shays (R-CT), sent a letter on November 8, 2007, to Department of Housing and Urban Development Secretary Alphonso Jackson, inquiring about the Administration's plans to address the growing budget and management crisis in HUD's Section 8 project-based assistance program.

"We write out of concern that recent HUD actions, including late payments and truncated contract funding terms, threaten to have significant negative impact on owner confidence in the project based Section 8 program. We are further concerned that such a loss of confidence could lead to an unnecessary exodus of many owners from the program, thus undermining broader legislative efforts to preserve federally assisted, privately owned, affordable housing units nationwide," the members wrote.

The members requested that HUD provide them with transparent budget information regarding funding for housing assistance program renewal costs for FY2008 and FY2009. They also asked that the Administration make recommendations for resolving the potential shortfall.

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