Cuomo Says CBPP Report Shows Need for Affordable Housing FWD

Tom Boland (wgcp@earthlink.net)
Tue, 16 Jun 1998 06:47:16 -0700 (PDT)


The Center on Budget and Policy Priorities' news
release is available from the group's website at http://www.cbpp.org
Contact: U.S. Department of Housing and Urban Development, 202-708-0685

http://www.usnewswire.com/topnews/Current_Releases/0615-106.txt
FWD  U.S. Newswire - 15 Jun 11:23


     CUOMO SAYS NEW REPORT SHOWS NEED FOR AFFORDABLE HOUSING

     Cuomo Says New Report by Center on Budget and Policy Priorities
     Shows Strong Need for More Affordable Housing


   WASHINGTON, June 15 /U.S. Newswire/ -- Housing and Urban
Development Secretary Andrew Cuomo said a new report issued today by
the Center on Budget and Policy Priorities documents the need for
additional affordable housing and for approval of housing and
community development funding proposed by President Clinton.

   "Unfortunately, there are a lot more $6-an-hour jobs than
$6-an-hour apartments," Cuomo said.  "Too many poor families are only
spectators looking from a distance at the economic prosperity
benefiting most Americans. These families are struggling desperately
to avoid becoming homeless, and the federal government needs to
create more affordable housing to meet their needs."

   The report by the Center on Budget and Policy Priorities says the
shortage of low-rent housing in the United States reached a record
high in 1995, when the number of low-income renter households
exceeded the number of low-cost rental units by 4.4 million. Congress
has not funded new housing assistance vouchers for low-income
families, the elderly and disabled since 1995.

   Cuomo said the Center's report shows the increasing need for
affordable housing that was documented by a HUD report issued in
April. The HUD report said that despite America's booming economy, a
record 5.3 million households with very low incomes -- including
growing numbers of working poor and suburban as well as urban
families -- have a desperate need for housing assistance. These
families pay 50 percent or more of their income for rent but can't
get housing subsidies because HUD does not have funds to provide the
assistance. The HUD study was based on 1995 Census data.

   President Clinton has requested funding for a series of
initiatives in his proposed 1999 federal budget to increase the
supply of affordable housing, including: $585 million for 103,000 new
rental assistance vouchers, 50,000 of which would help welfare
recipients get and keep jobs; $135 million for increased funding for
homeless grants; $50 million for additional HOME program grants; $11
million for a new HOME bank to finance affordable housing; and a
substantial expansion of the Low-Income Housing Tax Credit to create
as many as 180,000 units of new affordable rental housing over the
next five years.

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