Multifamily Housing: More Accessible HUD Data Could Help Efforts to Preserve Housing for Low-Income Tenants Page: 43 of 49
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Appendix II
Questions from December 10, 2002, Letter
from the House Committee on Financial
Services
9. The provision of enhanced vouchers does not currently apply to
Section 236 or Section 221 (d) (3) mortgages that mature. What is the
impact on the current tenant population upon mortgage maturity?
There is no statutory requirement for HUD to offer tenants special
protections, such as enhanced vouchers, when a HUD mortgage matures.
However, tenants who receive rental assistance in properties with maturing
Section 236 or Section 221(d)(3) mortgages would be eligible for enhanced
vouchers under rental assistance programs, such as project-based Section
8. Depending on property owners' decisions, tenants in these properties
who do not receive rental assistance could face higher, possibly
unaffordable, rents.
10. What recommendations does GAO propose to address or alleviate the
potential loss of affordable housing arising from FHA mortgage
maturations?
Awareness of the potential for a HUD mortgage to mature, while not a
guarantee of action, could help state or local agencies' ability to use
available tools or incentives for preserving properties' affordability to low-
income tenants. Therefore, to help state and local housing agencies track
HUD-subsidized properties that may leave HUD's programs upon mortgage
maturity or for other reasons, we are recommending that the Secretary of
HUD solicit the views of state and local agencies to determine (1) the
specific information concerning HUD-subsidized properties that would be
most useful to their affordability preservation efforts and (2) the most
effective format for making this information available, and then use the
results to modify the current means of conveying the data on these
properties to make the data more readily available.GAO-04-20 Information on HUD Mortgage Maturity
Page 39
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United States. General Accounting Office. Multifamily Housing: More Accessible HUD Data Could Help Efforts to Preserve Housing for Low-Income Tenants, report, January 23, 2004; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc291074/m1/43/: accessed May 16, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.