Affordable Housing Category Archives

Leaked FY-18 Budget Draft Proposes Deep Cuts To HUD

A copy of a recent internal-draft of President Trump’s FY-18 Budget was obtained by POLITICO and several advocacy organizations.  The document, dated May 4, proposes significant cuts to the HUD Budget.  The expanded document reflects many of the priorities outlined in the “Skinny Budget” released earlier this year by the Trump Administration, though readers should note that it may not reflect the final spending request which is expected May 23.   The documents, as presented, would fully zero out funding for key community development programs including CDBG, HOME, Choice Neighborhoods Initiative and make dramatic cuts to Project-Based and Tenant-Based Rental Assistance, Section 811, Homeless Assistance Grants as well Public Housing Capital and Operating Funds.  The budget document proposes a modest increase to the Section 202 program.

NH&RA Executive Director Thom Amdur notes, “It is hard to imagine a more austere HUD budget proposal.  These proposed cuts, if enacted would have a devastating impact on low-income families and communities around the country.  In particular, the public housing capital backlog would be exacerbate even further and innovative programs like the Rental Assistance Demonstration (RAD), which leverage private sector financing to recapitalize aging public housing would be crippled.  Multifamily owners of Project-Based section 8 properties will also experience substantial stress in the proposed budget.”  The National Low-Income Housing Coalition estimates that more than 250,000 families would lose their vouchers under the budget proposal.

HUD PROGRAMS ENACTED FUNDING FY 2017 (in Millions) Leaked Trump FY-18 Draft 5/4/17 (in Millions) Difference between FY-18 (Leaked) and Enacted FY-17 (in Millions)
Project-Based Rental Assistance  $10,816.00  $10,351.10  $(464.90)
Tenant-Based Rental Assistance  $20,292.00  $15,317.90  $(4,974.10)
Public Housing Capital Fund  $1,941.50  $628.00  $(1,313.50)
Homeless Assistance Grants  $2,383.00  $2,250.00  $(133.00)
Choice Neighborhoods Initiative  $137.00  $-    $(137.00)
Housing for the Elderly Program  $502.40  $510.00  $7.60
HOME Investment Partnerships  $950.00  $-    $(950.00)
Community Development Block Grants  $3,060.00  $-    $(3,060.00)
Public Housing Operating Fund  $4,400.00  $3,900.00  $(500.00)
Housing for Persons with Disabilities Program  $146.20  $121.30  $(24.90)

 

Early Reflections on the 2016 Election

It will take some time to fully digest the results from last night’s election but I wanted to share some initial thoughts on what this may mean for our industry.   Whether you are a Republican or Democrat we must collectively figure out a way to come back from the divisive politics that characterized this election.  We live in challenging times and if we are going to face the collective domestic and global challenges that are on our door-step we must find a way to embrace change and work together to meet those challenges.  Affordable housing and community development are businesses that serve a higher purpose – we have a mission that transcends partisanship.  Collectively we have made great strides in raising the profile of housing as a core political issue and as we transition to a new Administration and a new Congress we know we have more work to do.

From a more practical perspective, we all are wondering how the new administration will select and pursue its priorities and how that will affect our industry?  The short answer is that I think it’s too soon to say.     We don’t know what we don’t know about President-Elect Donald Trump, what his governing style will be or who the team will be that implements his priorities.   We  have heard during his campaign that attempts at tax reform, immigration reform, and the repeal of the Affordable Care Act are core domestic priorities, but — if history is a guide – finding consensus on any of these items will be extremely difficult.

This may have been a “change” election but substantive legislative action will not be easy, even without divided government.  The margins in both the House and Senate are thin and there remain significant ideological divisions between the two parties as well as within the Democratic and Republican caucuses.

One day in, I speculate that we might see roll back of regulations across the board and a general  prioritization for smaller government.  I expect government programs, even popular ones, will be scrutinized and reevaluated with a respect to ideology but also on their merits as “business units”.   If the reduction of the corporate tax rate remains a priority next year, we know that the LIHTC, Historic Credit, New Markets Tax Credit and the various renewable energy credits will at least be part of the discussion.

We will learn much more about the Trump Administration’s leadership team in the weeks and months ahead as well as what  their initial priorities are for legislative and regulatory action.  In the meantime, we must take nothing for granted and do our collective part to educate the incoming administration and Congress.  NH&RA will be actively engaged in the transition and it will be our continued priority to keep our members connected with this process and how it may potentially impact your respective businesses.

Any political change brings a degree of uncertainty to our lives and businesses.  Fortunately, the NH&RA network is strong and we will embrace today’s change as we embraced it so often in the past – together.  We will continue to convene around our commitment to mission and shared knowledge to grow our industry together. As always, the NH&RA team welcomes your questions, feedback and collaboration.  We encourage you to reach out to our staff, send us your ideas or questions and get involved.

Thom Amdur
Executive Director
tamdur@housingonline.com
202-939-1753

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Preston C. Moore: In Memoriam

It is with great sadness that we report that our friend and colleague Preston C. Moore passed away at his home on Tuesday July 5 at the age of 84.  Preston was the President of Urban Home Ownership Corporation in New York City and one of the founding members and a longtime Director of National Housing & Rehabilitation Association.  Preston was a friend and mentor to many in the industry including NH&RA President and CEO Peter Bell who observes, “Preston was an incredibly kind man and consummate gentleman.  He was an affordable housing pioneer in New York City and taught me a great deal in my earliest days with NH&RA.  He will be greatly missed.”

A trained architect, Preston started his professional career at the the Department of Public Works in New York.  Over his career at Urban Home Ownership Corp. he oversaw the planning, development and management of twenty two multifamily developments across New York and New Jersey.  He also served honorably in the Air Force for eight years, where he attained the rank of Captain.

Preston is survived by his wife of 62 years Ariel Moore and three children, Kevin Moore, Paul Moore and Roger Moore as well as a granddaughter and two great grandchildren.

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