Housing Issues: The Housing and Community Development Act of 1994
(Testimony, 03/10/94, GAO/T-RCED-94-148).

H.R. 3838, the Housing and Community Development Act of 1994, addresses
a number of issues that GAO has identified in its housing work. For
example, it contains provisions that could reduce the potential for
defaults or foreclosures in three government-sponsored loan programs:
the Department of Housing and Urban Development's (HUD) insured
multifamily loans, HUD-guaranteed Community Development Block Grant
loans, and the Farmers Home Administration's rural housing loans. It
would improve HUD's efficiency in assisting lower-income households by
merging the HUD tenant-based certificate and voucher assistance
programs. It also authorizes more funding for homelessness assistance
programs. On the other hand, GAO is concerned about how the certificate
and voucher assistance programs and the homeless assistance programs can
best be structured to meet the needs of program recipients while
minimizing administrative burdens on HUD staff and program recipients.
Congressional monitoring of both the Community Development Block Grant
and HUD's multifamily loan programs will ensure that continued
delinquencies, defaults, and foreclosures do not threaten the program's
effectiveness.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  T-RCED-94-148
     TITLE:  Housing Issues: The Housing and Community Development Act 
             of 1994
      DATE:  03/10/94
   SUBJECT:  Community development
             Grant administration
             Interagency relations
             Housing programs
             Rental housing
             Federal property management
             Loan defaults
             Economic development
             Low income housing
             Proposed legislation
IDENTIFIER:  Community Development Block Grant
             Urban Development Action Grant
             HUD Section 8 Certificate Program
             HUD Section 8 Voucher Program
             HUD Section 8 Rental Assistance Program
             
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