Donovan: Sequestration could devastate Fed housing programs

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 · Remarks of Secretary Shaun Donovan and the NLC Congress of Cities Conference. Washington, D.C. Monday, March 11, 2013.. It is the largest federal block grant program dedicated to affordable housing production and it is essential to our affordable housing finance system.

WASHINGTON — U.S. Sens. Tim Kaine (D-VA) and Mark R. Warner (D-VA) sent a letter to Housing and Urban Development (HUD) Secretary Shaun Donovan urging him to take additional steps to help Virginia housing authorities alleviate the worst effects of severe budget cuts caused in part by sequestration.

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Another 125,000 individuals or families could lose assistance offered through the Housing Choice Voucher program, putting more people at risk of becoming homeless, Donovan told the panel. The HCV program currently provides support to families who are renting in private apartment units. Donovan added that sequestration cuts could cause more than.

Sequestration would also cut $212 million from HUD’s HOME and Community development block grant programs, Donovan said, adding that communities receiving the funds could lose nearly half a billion dollars in private funding because they would no longer be able to leverage federal dollars.

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ALEXANDRIA, Va. (October 4, 2012)-Mental Health America today released an analysis demonstrating the devastating impact “sequestration” would have on programs and services for people living with mental health and substance use conditions. Sequestration is the process of making automatic budget cuts to federal government programs.

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Rising home prices are starting to catch up with buyers and may be leading some to put off buying for a little longer.

In last year’s across-the-board $1 trillion federal spending cuts, known as sequestration. could do more with existing funds if there were more flexibility in our federal housing programs. That is.