Housing and Trust Fund Article essays

Housing and Trust Fund Article essays On July 10, 2002, the state and local housing trust funds in the House Financial Services Committee approved a dollar for dollar matching grant program, part of the larger H.R. 3995 Bill. The H.R. 3995 bill, also known as the Housing Affordability for America Act of 2002 was introduced by housing subcommittee chair Marge Roukema (NJ), and was aimed at reauthorizing a number of housing programs. These include the HOPE VI severely distressed public housing program, the Housing Opportunities for Persons with AIDS (HOPWA) program, and the McKinney Act's homeless housing Bill H.R. 3995 was only approved after a great deal of debate and controversy that surrounded the passage of a housing trust fund program on a national basis. This controversy began less than a month earlier when the House Financial Services Committee approved an amendment to the bill by Representative Bernie Sanders (VT). This amendment replaced an original provision that, within the HOME program, created a "new rental housing production/preservation component within the HOME program." In the end, when the new markup of Bill H.R. 3995 was later introduced, neither the original provision nor Sanders housing trust appeared. Instead, the matching grant program was approved. In conclusion, we see that political maneuvering can often create significant changes in governmentally regulated trust funds. This is significant, as approximately 500 million dollars every year are spent by 37 state trust funds and 280 local trust funds. The matching grant program, as introduced, had number of requirements, including certification ...