Use of Housing Subsidies

T-RCED-90-34: Published: Feb 27, 1990. Publicly Released: Feb 27, 1990.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

GAO discussed the Department of Housing and Urban Development's (HUD) Section 8 Moderate Rehabilitation Program, focusing on: (1) its analysis of one project; and (2) the financial ramifications and the associated impact on low-income families of using the program and tax credits. GAO noted that: (1) the developer used subsidies under the program and tax credits to generate substantial cash flows; (2) there were no standards or guidelines governing the amount of proceeds a developer could realize above the cost of acquiring and rehabilitating section 8 properties; and (3) at the project it reviewed, HUD could have assisted another 259 households at the same funding level. GAO also noted that: (1) program changes limited the amount of subsidies allowed and their use; and (2) recent legislative changes placed greater responsibility on state credit-allocation agencies and prohibited the use of tax credits in conjunction with the section 8 program.

Sep 10, 2018

Jun 26, 2018

Jun 19, 2018

May 17, 2018

Apr 26, 2018

Apr 24, 2018

Apr 17, 2018

Mar 22, 2018

Mar 15, 2018

Feb 15, 2018

Looking for more? Browse all our products here