It’s mostly not good news from the feds. Cuts in housing and community development programs (16% for CDBGs and 11% for the HOME program, which contributes to the County AHIF fund) have been announced with further and deeper cuts expected for FY2012. This tracks the mainstream press accounts of the blinking contest taking place across the Potomac.
The “mostly” reflects the protected statutory allocations for the most important, nationally funded resource for affordable housing,the state-allocated low-income housing tax credit (LIHTC) program.
So once again, local jurisdictions must make the stark choice between program cuts or making up the difference.
For more on CDBGs, link here.
For more on AHIF/HOME and LIHTC, link here.
For more about LIHTC, link here.