Rural Rental Housing: Incentives Maintain Low-Income Housing but Clearer Guidance Needed
RCED-92-150
Published: Jun 23, 1992. Publicly Released: Jul 15, 1992.
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Highlights
Pursuant to a congressional request, GAO provided information on: (1) financial and other incentives offered by the Farmers Home Administration (FmHA) and their effect on preserving the FmHA rural rental housing inventory; (2) the types of incentives FmHA uses; and (3) the problems FmHA encounters in providing incentives.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| Department of Agriculture | To correct the problems encountered in the FmHA interim regulation and ensure that no further delays occur in implementing the final regulation, the Secretary of Agriculture should direct the Administrator, FmHA, to establish instructions and procedures for implementing the regulation and ensure that these procedures are distributed to FmHA state, district, and county offices as soon as the regulation is issued. |
Regulations were issued along with revised agency guidelines on July 21, 1993, and August 20, 1993, respectively.
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AppraisalsDirect loansFair market valueHousing programsLoan repaymentsLow income housingMortgage loansMortgage programsRental housingRural housing programs