Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities
U.S. Government Accountability Office
Section 236 Interest Reduction Payments
| Administering Agency/Entity |
Department of Housing and Urban Development |
| Short Description |
Provides monthly subsidies to property owners that reduce the interest rate to 1 percent on 40-year, HUD-insured or state-financed mortgages for multifamily rental projects. Tenants of certain units receive rent subsidies through the rental assistance program. Many units receiving rental assistance have been converted to Section 8 assistance. |
| Primary Purpose |
Assistance for financing rental housing |
| Type of Housing Supported |
Rental Housing |
| Type of Assistance |
Direct payment |
| Fiscal Year 2010 Obligations |
None; payments are made from obligations recorded in prior years. No new commitments since 1973. |
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