Click for Ann Arbor, Michigan Forecast
Monday May 29, 2017
Follow us: facebook twitter RSS feed
Print Comment E-mail

Hard Times, Big Plans

 

continued

She recognizes the dangers of the current situation. "The housing commission's primary funding is from HUD, through public housing and housing vouchers, and every year Congress cuts the budget," Hall says. "Right now we have the reserves to cover the deficit. But if it stays the same, we'll have to cut staff and programs. The housing commission needs to change if we're going to survive."

Hall's solution is to diversify the revenue stream. "It is absolutely possible," she says. "The single greatest source of revenue for affordable rental housing is low-income housing tax credits, an IRS program using private capital. In addition, there are other HUD funding sources, like Community Development Block Grants, HOME funds, Section 811, and others. The VA has vouchers and funding for development, as [do] private foundations and the Michigan State Housing Development Authority. It's not easy to do, but we have to do it."

While HUD has less money to support public housing, Hall adds, more vouchers are available to help low-income individuals who rent privately owned housing. "Those vouchers can also be used in these affordable housing developments, like Avalon Housing does, to subsidize the rent," Hall explains.

Bookmark and Share
previous  ·  1 l 2 l 3 l 4  ·  next page
all on one page
read more stories here -> Marketplace  l  Culture  l  Community  l  News

You might also like:

Restaurants where Outdoor Seating Is Available
A clickable zoomable map
Make America Great Again, by Tim Athan
Community Services - Donations
Laura Hulthen Thomas
Unexpected turns
Keith Taylor
Subscribe to the Ann Arbor Observer
Today's Events
Restaurants with prices Over $30
A clickable zoomable map
Other Local Parks of Note
Victoria Cendrowski
Rec & Ed's yoga queen
Shelley Daily
MacBrew
Drunken Shakespeare
Patrick Dunn
Regent Hotel
Greek Festival June 9-11, 2017
spark ann arbor