Help for Sec. 515 in '06 appropriations

The Housing Assistance Council, which has found precious little to like about recent management of the Sec. 515 rural housing program, is surprisingly cheerful today over several Sec. 515 provisions in the recently signed agriculture appropriations bill. What's coming is a $9 million demonstration program with help for Sec. 515 landlords, plus $16 million to fund extra vouchers for tenants in buildings with prepaid Sec. 515 loans. It also allows USDA to pay nonprofits up to $50,000 toward the direct costs of purchasing Sec. 515 buildings. And more preservation loans for nonprofit intermediaries. Go read.