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

U.S. Government Accountability Office

Section 515 Multifamily Direct Rural Rental Housing Loans

Administering Agency/Entity Department of Agriculture
Short Description Provides loans directly to individuals or organizations to construct, or to purchase and substantially rehabilitate, multifamily rental or cooperative housing in rural communities. Section 515 loans also fund independent living facilities, such as congregate housing and group homes for elderly or disabled families. Tenants eligible to live in properties built with these loans may also receive rental assistance through HUD’s Project-Based Section 8 program or USDA’s Section 521 program.
Primary Purpose Assistance for financing rental housing
Type of Housing Supported Rental Housing
Type of Assistance Direct loan
Fiscal Year 2010 Obligations $39,000,000; obligations represent the expected credit subsidy costs for loan commitments made in fiscal year 2010. These estimates are revised in subsequent years and the ultimate cost will not be known until the loans have matured.

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