Earlier this year we commented on the proposed The 2011 Budget Request for the U.S. Department of Housing and Urban Affairs. Recently, the Center on Budget and Policy Priorities weighed in with their thoughts.
The CBPP analysis highlights the Transforming Rental Assistance (TRA) initiative, a $350 million program to convert some 300,000 units (280,000 public housing units and 20,000 privately held units supported through other rental assistance programs) to a new type of long-term housing subsidy.
This new subsidy program would be structured to encourage private investment in affordable housing and loosen the ties between tenants and project based subsidizes. Tenants in TRA converted properties would become eligible for tenant-based vouchers and tenant-based assistance.
CBPP endorses the TRA initiative, but cautions “While it should enact a version of TRA, Congress should not neglect other investments to help meet affordable housing needs.”
Source: Fischer, Will “Obama Budget Includes Major Plan to Preserve Needed Affordable Housing” Center on Budget and Policy Priorities March 16, 2010