All Agencies (A-Z) » Department of Housing and Urban Development, Executive
Department of Housing and Urban Development, Executive (1 - 10 of 1,147 items)
Low-Income Housing Tax Credit: The Role of Syndicators
GAO-17-285R: Published: Feb 16, 2017. Publicly Released: Mar 1, 2017.
The Low-Income Housing Tax Credit (LIHTC) established under the Tax Reform Act of 1986, is the largest source of federal assistance for developing affordable rental housing and has financed about 2.9 million rental units. LIHTCs encourage private-equity investment in low-income housing through tax credits. Developers of awarded projects typically attempt to obtain funding for their projects by att...
Information Technology: HUD Needs to Address Significant Weaknesses in Its Cost Estimating Practices
GAO-17-281: Published: Feb 7, 2017. Publicly Released: Feb 7, 2017.
The cost estimates that the Department of Housing and Urban Development (HUD) developed for the four selected information technology (IT) investments were unreliable and, thus, lacked a sound basis for informing the department's investment and budgetary decisions. GAO's Cost Estimating and Assessment Guide (Cost Guide) defines best practices that are associated with four characteristics of a rel...
Home Mortgage Guarantees: Issues to Consider in Evaluating Opportunities to Consolidate Two Overlapping Single-Family Programs
GAO-16-801: Published: Sep 29, 2016. Publicly Released: Oct 31, 2016.
GAO's comparison of single-family home purchase loans guaranteed by the Rural Housing Service (RHS) and the Federal Housing Administration (FHA) in fiscal years 2010–2014 identified significant overlap and some differences in the borrowers served. Within statutorily defined rural areas (RHS-eligible areas):Both agencies served large numbers of rural borrowers, but FHA served over 35 percent more...
Elderly Housing: HUD Should Do More to Oversee Efforts to Link Residents to Services
GAO-16-758: Published: Sep 1, 2016. Publicly Released: Oct 3, 2016.
While limitations in the Department of Housing and Urban Development's (HUD) data make an accurate assessment difficult, GAO estimates that roughly half of the 7,229 Section 202 Supportive Housing for the Elderly (Section 202) properties have HUD-funded service coordinators—staff who link residents to supportive services such as transportation assistance or meals. HUD's data indicate that 38 per...
Community Development Block Grants: Sources of Data on Community Income Are Limited
GAO-16-734: Published: Sep 6, 2016. Publicly Released: Sep 6, 2016.
The Department of Housing and Urban Development's (HUD) and states' primary method for communities to demonstrate eligibility when they disagree with HUD's eligibility determination is to allow communities to conduct their own local income surveys to show that they meet the Community Development Block Grant (CDBG) income threshold. HUD instructs small communities, known as nonentitlement communiti...
Credit Programs: Key Agencies Should Better Document Procedures for Estimating Subsidy Costs
GAO-16-269: Published: Jul 13, 2016. Publicly Released: Jul 13, 2016.
The Federal Credit Reform Act of 1990 requires agencies to estimate the cost to the government of extending or guaranteeing credit. This cost, referred to as subsidy cost, equals the net present value of estimated cash flows from the government (e.g., loan disbursements and claim payments to lenders) minus estimated cash flows to the government (e.g., loan repayments, interest payments, fees, and...
Low-Income Housing Tax Credit: Some Agency Practices Raise Concerns and IRS Could Improve Noncompliance Reporting and Data Collection
GAO-16-360: Published: May 11, 2016. Publicly Released: Jun 8, 2016.
Allocating agencies that administer the Low-Income Housing Tax Credit (LIHTC) program have certain flexibilities for implementing program requirements and the agencies have done so in various ways. Although GAO found that allocating agencies generally have processes to meet requirements for allocating credits, reviewing costs, and monitoring projects, some of these practices raised concerns:More t...
Housing for Special Needs: Funding for HUD's Supportive Housing Programs
GAO-16-424: Published: May 31, 2016. Publicly Released: May 31, 2016.
Until program funding for new development ceased in fiscal year 2012, the Department of Housing and Urban Development (HUD) used a two-phase process to allocate and award capital advances for Section 202 Supportive Housing for the Elderly (Section 202) and Section 811 Supportive Housing for Persons with Disabilities (Section 811). First, HUD headquarters allocated the amount of appropriated funds...
National Flood Insurance Program: Options for Providing Affordability Assistance
GAO-16-190: Published: Feb 10, 2016. Publicly Released: Mar 10, 2016.
Options for targeting assistance to subsidized policyholders of primary residences who may experience difficulty paying full-risk rates for their National Flood Insurance Program (NFIP) policies include means testing assistance based on the income level of policyholders or geographic areas, setting premium caps, and basing assistance on the cost of mitigating the risk of damage to their homes. Cur...
Credit Reform: Current Method to Estimate Credit Subsidy Costs Is More Appropriate for Budget Estimates Than a Fair Value Approach
GAO-16-41: Published: Jan 29, 2016. Publicly Released: Feb 29, 2016.
The Federal Credit Reform Act of 1990 (FCRA) requires agencies to estimate the cost to the government of extending or guaranteeing credit. This cost, referred to as subsidy cost, equals the net present value of estimated cash flows from the government (e.g., loan disbursements and claim payments to lenders) minus estimated cash flows to the government (e.g., loan repayments, interest payments, fee...