UPDATED: May 12, 2009
(from Memo to Members' Newsletter, National Low Income Housing Coalition) Details of Proposed FY10 HUD Budget Released
President Barack Obama rolled out his detailed FY10 funding request for federal programs on May 7, revealing an almost 11% increase for HUD's programs over the current year. The President had provided Congress with a broad overview of his FY10 requests in February.
As expected, the budget includes inaugural funding for the National Housing Trust Fund. "For the first time, the Budget provides $1 billion to capitalize a Housing Trust Fund that will help make significant advances in providing affordable housing options for targeted low income families, thus addressing one of the most serious social and economic problems facing our society," HUD's budget request states.
Also as expected, the $1 billion for the NHTF is subject to PAYGO, which means it must be accompanied by an offset elsewhere in the federal budget. At a budget briefing for advocates on May 7, HUD Secretary Shaun Donovan said the budget marked "a renewed commitment to the core programs of the agency" and called the requests for HUD's rental housing programs a "rock-solid commitment to preserving public and assisted housing."
"It sends a very strong signal that we have entered a new era of housing and community development," Secretary Donovan said of the FY10 HUD request. "We know that HUD has to be a different kind of partner, a different kind of agency in the years to come. You'll see the beginnings of this transformation in this budget."
Link to the Office of Management and Budget's detailed "appendix" on the FY10 HUD budget request at http://www.whitehouse.gov/omb/budget/fy2010/assets/hud.pdf
Link to HUD's budget request summary at http://www.hud.gov/budgetsummary2010/fy10budget.pdf
Link to NLIHC's budget chart for selected HUD programs at http://www.nlihc.org/doc/FY10-presidents-request33.pdf
