affordable housing

(redirected from Housing subsidies)

affordable housing

Housing for people whose income is a certain percentage below the median income for an area, as determined by the U.S. Department of Housing and Urban Development (HUD). National and local governments provide incentives and cash assistance to developers to build new affordable housing or rehabilitate older apartment buildings or other projects and offer housing at rates deemed affordable for the area.

Currently, HUD has three affordable housing programs.They are

1. HOME. Provides grants to state and local governments to fund their programs to meet the housing needs of low-income and very low income families.

2. SHOP. Provides funds to nonprofit organizations to acquire home sites and develop or improve the systems for delivery of sweat equity and volunteer-based homeownership programs for low-income families.

3. HOZ. Provides funds for communities to reclaim vacant and blighted areas and create home ownership zones of mixed income, pedestrian friendly neighborhoods.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Forms of subsidies include direct housing subsidies, non-profit housing, public housing, rent supplements, and some forms of co-operative and private sector housing.
Joe Chen, a senior deputy general manager at 104 Job Bank, said Monday that more and more enterprises in China are adjusting their employment policies to focus on "local hiring" and as a result many are no longer offering travel or housing subsidies to overseas recruits.
General government consumer spending increased 3.3% yoy after a decline of 0.5% yoy in 2016, driven, inter alia, due to rising budget expenditures on allowances and housing subsidies.
The Council has played an important role in the FHLB's awarding affordable housing subsidies of more than USD 661 million since 1990.
Trump's budget revived his calls for big cuts to domestic programs that benefit the poor and middle class, such as food stamps, housing subsidies and student loans.
That remark appeared aimed at lawmakers from the far-left France Insoumise (France Unbowed), who in July piled up pasta and a pot of tomato sauce on their bench in parliament to show how much students would lose out on with a [euro]5 cut in housing subsidies.
Tenmast serves PHAs with more than 20,000 units, agencies with state-wide programmes, and agencies that manage all federal, state, and local housing subsidies.
"Kuwait continuously aims to develop legislation aimed at women," she said, noting to recent amendments to a law for government housing subsidies granted to nationals, which provides further rights for women.
But still he collects around $313,000 a year from the state for welfare housing subsidies.
agency is running a $100 million budget deficit and stopped dispensing housing subsidies to Syrian-Palestinian refugees in Lebanon in July.
The impact of prioritizing access to permanent housing subsidies, rapid re-housing, and transitional housing are evaluated relative to usual care.