NMHC: $30.4-Bil HUD Budget Takes Solid Steps

WASHINGTON, DC-President George W. Bush’s proposed $30.4 billion US Department of Housing and Urban Development budget takes some “very solid steps” at addressing the nation’s “broken” housing policy, according to an official from the National Multi Housing Council.

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.”