Where to start?
The President's FY 2012 budget will be released today at 10:30 a.m. EST. HUD has scheduled a briefing for 2:00 p.m. EST. NAHRO staff will be on the scene, and you can view the webcast through the Department's website.
NAHRO will, as always, provide comprehensive coverage of the FY 2012 budget, starting this afternoon with a broad overview of the proposal's treatment of HUD programs. We will roll out longer pieces analyzing the budget's impact on Public Housing, Section 8, and Community Planning and Development programs, respectively, in the days ahead.
In other news, Harold Rogers (R-KY), Chairman of the House Appropriations Committee unveiled H.R. 1, the "Full-Year Continuing Appropriations Act, 2011," Friday evening. We'll be sending NAHRO members subscribed to Direct News an alert summarizing the bill in the next hour or so, but here's a sneak preview:
- The Public Housing Capital Fund is cut by over $1 billion compared to FY 2010.
- CDBG formula grants are cut by nearly $2.5 billion compared to FY 2010, a reduction of 62 percent.
- Section 8 HAP renewals are cut by over $600 million compared to the President’s request for FY 2011 and by more than $360 million compared to FY 2010.
- Section 8 ongoing administrative fees are slashed by $368 million compared to FY 2010 and $584 million below the President’s request for FY 2011.
- Funding for HOPE VI, the Brownfields Economic Development Initiative, and the Rural Innovation Fund is eliminated entirely.
- Prior year unobligated balances for HOPE VI, the Brownfields Economic Development Initiative, and the Sustainable Communities Initiative are rescinded
NAHRO members: Here's a chart comparing funding levels for HUD programs under H.R. 1 to FY 2010 levels and the President's FY 2011 budget.