Industry News

New budget proposal will shrink public housing programs

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Budget cuts to a grant program could lead to "significant reductions in a range of services" for about 5 million low-income and moderate-income U.S. residents, according to survey released this week by a coalition of housing, community development and other community groups. The survey found that hundreds of thousands of senior citizens, children, persons with special needs and the homeless will lose programs that directly benefit them, according to the survey. "Everything from housing rehabilitation and home-buyer assistance programs to job creation and projects to reduce environmental contamination and to construct fire and public safety facilities will be affected." A 14 percent reduction in money for the Community Development Block Grant program over the last two fiscal years "has had a substantial, negative effect on the collective ability of states, cities, and counties to serve Americans in need, promote home ownership, grow local economies, and strengthen the natio...