The budget, which carries a 6.8% increase over last year, includes funding for project-based Section 8 projects that are up for renewal, boosts loan limits for FHA multifamily units, includes plans to help communities better manage growth and it also paves the way for renovating brownfields. All of those are measures called for by the NMHC and other groups earlier this year.

"What we're seeing in the budget are very solid steps," says Clarine Nardi Riddle, vice president for government affairs at NHMC. "There are also some pieces where we think they should review the program to make certain they are working as soundly as possible."

The budget proposes to raise FHA multifamily loan limits by 25%, as called for by the NMHC and the Coalition for Affordable Rental Housing. The limits hadn't been boosted since 1992 at the same time construction costs had risen 25%. According to HUD, the increase, when combined with the existing ability to multiply loan limits by up to 240%, should help to increase production of new apartment buildings throughout the country.

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