President Releases FY2014 Proposed Budget; HUD Budget Stronger on Rental Assistance Programs than on Housing Production Programs

President Releases FY2014 Proposed Budget; HUD Budget Stronger on Rental Assistance Programs than on Housing Production Programs

To view more details of HUD’s proposed budget, visit HUD’s web page on the FY2014 Budget.

WASHINGTON, D.C. – April 11, 2013 – (RealEstateRama) — The National Low Income Housing Coalition has also published an analysis of housing programs’ funding in the FY2014 proposed budget. NLIHC provides some highlights of the HUD budget as it pertains to supporting low-income households:

For housing production for extremely low income households, the Administration requests funding on the mandatory side of the budget:

National Housing Trust Fund- $1 billion (Funding for the NHTF is separate from the HUD appropriations process.)

For the HUD rental housing programs serving extremely low income households, the Administration requests:

Tenant Based Rental Assistance- $19.989 billion, up from $18.940 billion in FY13*
Project Based Rental Assistance- $10.272 billion, up from $9.340 billion in FY13
Public Housing Operating- $4.6 billion, up from $4.262 billion in FY13
Public Housing Capital- $2 billion, up from $1.875 billion in FY13
Homeless Assistance- $2.38 billion, up from $2.033 billion in FY13
Section 811- $126 million, down from $165 million in FY13
Section 202- $400 million, up from $375 million in FY13

For HUD block grants, the Administration requests:

HOME- $950 million, down from $1 billion in FY13
CDBG Formula Grants- $2.798 billion, down from $2.948 billion in FY13

For rural rental housing, the Administration requests:

Section 514- $24 million, up from $23 million in FY13
Section 515- $28 million, down from $31 million in FY13
Section 516- $14 million, up from $8 million in FY13
Section 521- $1.015 billion, up from $907 million in FY13

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