Affordable housing (1 - 10 of 46 items) in Custom Date Range
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...
Troubled Asset Relief Program: Status of Housing Programs
GAO-17-236: Published: Jan 9, 2017. Publicly Released: Jan 9, 2017.
As of October 31, 2016, the Department of the Treasury (Treasury) had disbursed $22.6 billion (60 percent) of the $37.51 billion Troubled Asset Relief Program (TARP) funds obligated to the three housing programs (see fig.).The Making Home Affordable (MHA) program allowed homeowners to apply for loan modifications to avoid foreclosure. Under this program, which was closed to applicants on December...
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...
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...
Low-Income Housing Tax Credit: Joint IRS-HUD Administration Could Help Address Weaknesses in Oversight
GAO-15-330: Published: Jul 15, 2015. Publicly Released: Jul 23, 2015.
Internal Revenue Service (IRS) oversight of the Low-Income Housing Tax Credit (LIHTC) program has been minimal. Specifically, since 1986 IRS conducted seven audits of 56 state housing finance agencies (HFA) on which IRS relies to administer and oversee the program. (HFAs are state-chartered authorities established to meet affordable housing needs.) Federal internal control standards call for monit...
Troubled Asset Relief Program: Treasury Continues to Wind down Most Programs, but Housing Programs Remain Active
GAO-15-197: Published: Jan 6, 2015. Publicly Released: Jan 6, 2015.
The Department of the Treasury (Treasury) continues to wind down Troubled Asset Relief Program (TARP) nonhousing programs that were designed to support financial and automotive markets (see figure). As of September 30, 2014, Treasury had exited four of the nine nonhousing programs that were once active, and was managing assets totaling $2.9 billion under those remaining. Some programs have yielded...
HUD Rental Assistance Demonstration: Information on Initial Conversions to Project-Based Vouchers
GAO-14-402: Published: Apr 24, 2014. Publicly Released: Apr 24, 2014.
Conversions to project-based vouchers under the Department of Housing and Urban Development's (HUD) Rental Assistance Demonstration (RAD) program will have a small effect on the percentage of total vouchers (made up of project and tenant-based) that are project-based. Residents with tenant-based vouchers can receive their assistance in any eligible privately owned rental unit, which means if they...
Programa Para Mitigar Activos Problemáticos: Es necesario un mayor esfuerzo en el control de préstamos equitativos y en el acceso a los programas de vivienda por parte de personas sin dominio del inglés
GAO-14-457: Published: Mar 31, 2014. Publicly Released: Mar 31, 2014.
This is the Spanish language highlights associated with GAO-14-117. Lo que encontró la GAOLa tasa de participación en el Programa de modificación de la accesibilidad a la vivienda (Home Affordable Modification Program o HAMP), un componente clave del programa Hacer la vivienda accesible (Making Home Affordable o MHA), alcanzó su ápice a principios de 2010, en general disminuyó durante 2011...
Native American Housing: Additional Actions Needed to Better Support Tribal Efforts
GAO-14-255: Published: Mar 27, 2014. Publicly Released: Mar 27, 2014.
Indian tribes and tribally designated housing entities face both external and internal challenges in carrying out affordable housing activities under the Indian Housing Block Grant (IHBG) program, which was authorized by the Native American Housing Assistance and Self-Determination Act of 1996 (NAHASDA). The most commonly identified external challenges included the often remote location of tribal...
Troubled Asset Relief Program: More Efforts Needed on Fair Lending Controls and Access for Non-English Speakers in Housing Programs
GAO-14-117: Published: Feb 6, 2014. Publicly Released: Feb 6, 2014.
For the Spanish translation of the highlights page for this document, see GAO-14-457.What GAO FoundParticipation rates in the Home Affordable Modification Program (HAMP), a key component of the Making Home Affordable program (MHA), peaked in early 2010, generally declined during 2011, and remained relatively steady from 2012 through November 2013. As of November 2013, about 1.3 million borrowers h...