Housing Vouchers Are an Effective Tool, Says Donovan
The American Recovery and Reinvestment Act (ARRA) will “help state and local agencies unstick developments frozen by locked tax credit markets, accelerate shovel-ready community development and affordable housing projects, and bring long-standing funding gaps in our programs,” said HUD Secretary Shaun Donovan, speaking at the National Association of Housing and Redevelopment Officials (NAHRO) Annual Legislative Conference last month.
Donovan spoke about the $2.25 billion invested to preserve units funded by the low-income housing tax credit, and the $2 billion invested in 12-month funding for Section 8 project-based housing contracts. He noted that “in the face of an economic downturn, housing vouchers are a very effective tool that help very low-income families, the elderly, and the disabled afford decent, safe, and sanitary housing in the private market. While we need to work to improve the program here at HUD and are committed to doing so, they should not be forgotten as we work to fix the housing crisis.”