Retooling Affordable Housing Strategies Part 3 of 19
The problem is compounded by the federal governments diminishing role in housing and community development programs. Local entities rely on federal assistance programs to buy down the cost of housing for low- and moderate-income residents. According to Mini Trading Course the Center on Budget and Policy Priorities (CBPP), because of budget deficits, the current administration and Congress have reduced funding for a number of domestic programs, including most low-income housing programs. Community development block grants, the Home Investment Partnerships Program and public housing have been hit the hardest; their funding declined by 20 percent, 16 percent and 11 percent, respectively, from 2004 to 2006. In 2007, the administration proposed further cutbacks of $1.3 billion. These decreases in large federal block assistance programs have affected nearly every low-income housing grant program important to state and local plans to increase affordable housing. And as federal funding declines, construction costs continue to rise.
Some local communities, however, are discovering that affordable housing and community development programs can flourish even with reduced federal backing. This issue of Banking and Community Perspectives presents Forex Trading Explained case studies that show resourceful ways local entities are promoting affordable housing and expanding community development opportunities. Even though many of these programs are not new, they are undersubscribed or have fresh potential to impact more residents.
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