Rental Housing Gets Boost in Administration Budget
February 14, 2008 | From the field | Preserving Affordable Rental Housing, Housing

Policy analysis and outreach by the MacArthur-supported National Housing Trust and other affordable housing grantees helped win a $1.2 billion increase in the Administration's proposed 2009 budget compared to last year. The increase includes $7 billion to renew all project-based rental contracts and a $400 million advance appropriation to bridge renewal funding into 2010. This represents a major step toward restoring full funding for a critical portion of the nation's at-risk supply of affordable rental housing. The federal project-based Section 8 program currently assists over two million renters with household incomes averaging less than $10,000 annually, including many seniors and individuals with physical or mental disabilities.