Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities

U.S. Government Accountability Office

Section 236 Interest Reduction Payments

Administering Agency/Entity Department of Housing and Urban Development
Short Description Provides monthly subsidies to property owners that reduce the interest rate to 1 percent on 40-year, HUD-insured or state-financed mortgages for multifamily rental projects. Tenants of certain units receive rent subsidies through the rental assistance program. Many units receiving rental assistance have been converted to Section 8 assistance.
Primary Purpose Assistance for financing rental housing
Type of Housing Supported Rental Housing
Type of Assistance Direct payment
Fiscal Year 2010 Obligations None; payments are made from obligations recorded in prior years. No new commitments since 1973.

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