Industry News

HUD aims to ‘reform’ Sec. 8

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The U.S. Department of Housing's proposed 2005 budget contains sweeping reform of the nation's rental assistance voucher program. The changes would help public housing authorities transition more low-income families self-sufficiency and reduce the number of families around the country who are on long waiting lists for assistance, according to the federal housing agency. The Sec. 8 program current assists 1.9 million households. HUD's proposed Flexible Voucher Program would provide local public housing authorites "more flexibility and less red tape to encourage (them) to manage effective programs," according to HUD. The plan would shift the rental assistance program from a unit-based distribution system to a dollar-based system in a system that HUD said would lower the costs. The average cost for each voucher has increased at an "alarming rate" of 23 percent in the last two years alone, according to HUD. Currently HUD gives local authorities a specific number of vouchers they dist...