State HFAs work actively to preserve affordable rental properties "at-risk" of being lost to the affordable housing inventory and offer financing to profit and not-for-profit developers to encourage the preservation of affordable housing in their states.
HFAs have made additional resources available to encourage such preservation and make sure that sellers are not financially disadvantaged by selling their property to an entity which intends to preserve it as affordable. As a 2011 Legislative Priority, NCSHA is seeking changes to existing housing programs and the creation of new ones to preserve existing affordable rental housing.
Useful Links: U.S. Department of Housing and Urban Development, National Housing Trust Preservation Resources
Printer-friendly versionNCSHA Blog Posts
- January 27, 2012
The House Financial Services Subcommittee on Insurance, Housing, and Community Opportunity recently circulated new draft legislation to reform the Section 8 program, the Affordable Housing and Self-Sufficiency Improvement Act of 2012 (AHSSIA). The legislation is the latest version of the Section 8 Voucher Reform Act (SEVRA) and the Section 8 Savings Act (SESA). The Subcommittee expects to markup the legislation, which has not yet been formally introduced and thus has not been assigned a bill number, in mid-February. - November 1, 2011
The House Financial Services Subcommittee on Insurance, Housing, and Community Opportunity held a hearing October 13 entitled “The Section 8 Savings Act of 2011 (SESA): Proposals to Promote Economic Independence for Assisted Families.” Although the Subcommittee released a new draft of SESA at the beginning of October, the hearing focused almost exclusively on the Moving-to-Work (MTW) demonstration program.
Housing Headlines
- Senator's website
- House Financial Services Committee
- Washington Post
News
- January 30, 2012
Wingate Development Corporation, which owns the Waterway Apartments, has extended the Section 8 Housing Assistance Payment (HAP) contract and the affordability on all 89 apartments for 20 years. - September 19, 2011
MassHousing announced today that it provided $792.5 million for affordable housing in fiscal year 2011, helping to drive the Agency to its second-best lending year in its 45-year history.
Preservation - Resources
- January 23, 2012
- December 13, 2011
NCSHA’s priorities, adopted annually by its Board of Directors after consultation with all state HFAs, set the agenda for NCSHA’s business development activities and advocacy before Congress, the Administration, and the federal agencies concerned with housing, including HUD, USDA, and the Treasury.
