|
Helping increase the nation’s home ownership rate to its
highest level in 15 years. |
|
|
Entering into an unprecedented partnership with more than
50 key public- and private-sector organizations to form a National
Home Ownership Strategy. Coupled with a stable economy and low
interest rates, this initiative is working to help 8 million more
families become homeowners by the year 2000. |
|
|
Revamping the Federal Housing Authority (FHA) to meet the
needs of today’s consumers—through streamlining and consolidating
services and automating functions using the latest technologies. FHA
is also providing home purchase loans for low-income and minority home
buyers at more than twice the rate of conventional home purchase loan
insurers. |
|
|
Working to reduce barriers to home ownership caused by
unlawful discrimination. To date, HUD has signed 70 “Best
Practices” agreements with key lenders that are resulting in more fair
lending practices and expanded opportunities for low-income and
minority families. |
|
|
Fulfilling his promise to permanently extend the
Low-Income Housing Tax Credit, spurring the private development of
low-income housing and helping to build more than 120,000 homes each
year. |
|
|
Launching an innovative public-private partnership
initiative to encourage pension funds to invest in the production and
rehabilitation of affordable multi-family housing. These partnerships
will create 3,500 units of affordable housing for working families and
the elderly. |
|
|
Improving the HOME Program to increase significantly
housing and rental assistance to families. In fiscal years 1994 and
1995, the Administration provided approximately 127,000 families with
housing assistance through the HOME program and over 19,000 families
with HOME tenant-based rental assistance. |
|
|
Continuing to expand rental assistance for a record number
of renter households who struggle to pay over 50% of their very low
incomes toward rent and utilities. This assistance is critical for
states and localities in helping families make the transition from
welfare to work. |
|
|
Strengthening and extending the Home Equity Conversion
Mortgage, which allows seniors to use the equity in their homes to
meet financial needs without having to sell their
homes. |
|
|
Tearing down 30,000 units of the worst public housing and
replacing them with townhome-style developments to help renew our
neighborhoods. HUD has awarded $1.44 billion in grants to spur
economic development and change the shape of 85 public-housing
developments nationwide. |
|
|
Cracking down on bad management in public housing by
taking over the most troubled public-housing authorities and forming
innovative partnerships with local and state
officials. |
|
|
Changing admission rules and rent calculations to reward
working families and increase opportunity and responsibility. The
Administration is helping to make public housing a springboard to
further opportunities and a safe place to live through:
|
|
Campus for Learners initiative to transform
public-housing developments into centers for living and
learning. |
|
|
|
Aggressive implementation of
the “One-Strike-and-You’re-Out” policy that helps prevent
drug dealers and violent offenders from terrorizing
public-housing residents. |
|
|
|
Operation Safe Home, under which federal law
enforcement agencies are working with local police and public
housing residents and managers to increase the arrest and
conviction of violent and drug-related suspects. This
initiative has resulted in the arrest of thousands of
criminals and the confiscation of hundreds of assault
weapons—and $3 million worth of
drugs. | |
|
|
Proposing a restructuring of HUD to respond to local needs
to help people improve their own lives. This would consolidate HUD’s
60 programs into three flexible performance-based funds, giving mayors
and governors the flexibility to develop housing and community
investment strategies, continue the transformation of public housing,
provide portable vouchers to residents of the worst developments, and
turn HUD into a “community-first” agency by relocating and
empowering local personnel. |
|
|
Making homeless assistance a top priority and doubling
funding since 1993. In 1995 HUD awarded $900 million to over 800
transitional and permanent housing programs nationwide to help
homeless individuals and families move from the streets to permanent
housing. As a result of these efforts, HUD’s homeless programs are
serving 300,000 individuals, a 14-fold increase since
1993. |