Declining Supply of Low and Moderate Income Rental Housing: Hearing Before the Subcommittee on Housing and Urban Affairs of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundredth Congress, First Session, on the Decline in Subsidized Units Expected During the Late 1980's and 1990's Assuming Owners Opt Out of the Section 8 Or Section 236 Programs when Their Contractual Obligations Expire, June 5, 1987 |
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affordable housing Alan Cranston Apartments areas assisted housing BMIR California capital cash Chairman Committee Congress continue convert cost December 21 DEMERY displaced tenants Earl Ross economic enacted equity existing owners expiring Farmers Home Farmers Home Administration federally assisted Flexible Subsidy FmHA funds Ginnie Mae Housing and Urban housing assistance housing projects HUD's investment investors issue legislation LMSA Loan Management lock-in low and moderate low income housing low income tenants market rate market rents median income moderate income housing moratorium national housing policy nonprofit option ownership percent prepay prepayment preservation private sector problem profit proposed refinancing rent increases rental assistance require restrictions Rural Housing rural rental housing Section 236 Section 515 Section 8 contract Senator CRANSTON solution SUBCOMMITTEE ON HOUSING subsidized housing subsidy contracts tax benefits tax credit tax incentives tax reform TOTAL URBAN AFFAIRS windfall profits tax
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Page 84 - I thank you for allowing me to appear before the committee today, and I will be happy to attempt to answer any questions you might have on this subject.
Page 265 - Secretary; (3) contain the agreement of the borrower that he will, at the request of the Secretary, proceed with diligence to refinance the balance of the indebtedness through cooperative or other responsible private credit sources whenever the Secretary determines, in the light of the borrower's circumstances, including his earning capacity and the income from the farm, that he is able to do so upon reasonable terms and conditions...
Page 264 - Hearings before the Subcommittee on Housing and Urban Affairs of the Senate Committee on Banking, Housing, and Urban Affairs, March 1968, submission by the Department of Housing and Urban Development, pt.
Page 2 - Dirksen Senate Office Building, Senator Alan Cranston (chairman of the subcommittee) presiding. Present: Senators Cranston, Dixon, Sasser, Sanford, and D'Amato.
Page 61 - Mr. Chairman, I want to thank you and members of the subcommittee for this opportunity to appear today.
Page 265 - ... that he is without sufficient resources to provide the necessary housing and buildings on his own account ; and (3) that he is unable to secure the credit necessary for such housing and buildings from other sources upon terms and conditions which he could reasonably be expected to fulfill.
Page 272 - ... chapter. [53 FR 2159, Jan. 26, 1988, as amended at 53 FR 7492, Mar. 9, 1988; 53 FR 13245, April 22, 1988; 56 FR 2241, Jan. 22, 1991; 58 FR 38925, July 21, 1993; 58 FR 44273, Aug. 20, 1993; 59 FR 6890, Feb. 14, 1994; 62 FR 25069, May 7, 1997] §1944.238 Prohibition against prepayment. The Agency shall not accept an offer to prepay, or request refinancing of any loan made to build or acquire new units made or insured under section 515 pursuant to a contract entered into on or after December 15,...
Page 272 - Iq472(c)(l). We are also concerned about FmHA's administration of the recently enacted moratorium on prepayments. In response to the moratorium legislation, FmHA directed its staff to accept the prepayment of loans for pre-1979 projects that are less than 20 years old on the date of the proposed prepayment, if a determination is made by the state director that a supply of adequate comparable housing is available in the community or prepayment will not result in a substantial increase in rents to...
Page 41 - MR. CHAIRMAN, MEMBERS OF THE COMMITTEE. THANK YOU FOR PROVIDING ME THE OPPORTUNITY TO DISCUSS THE FY 1985 DEFENSE PROGRAM.
Page 214 - Builders (NAHB), a trade association reoresenting more than 147,000 members, is pleased to have this opportunity to submit a statement for the hearing before the House Ways and Means Subcommittee on Oversight.