U.S. Congress - H.R.2876 Rural Housing Preservation Act of 2009
H.R.2876 - Rural Housing Preservation Act of 2009
To establish a program to preserve rural multifamily housing assisted under the Housing Act of 1949. view all titles (2)
All Bill Titles
- Short: Rural Housing Preservation Act of 2009 as introduced.
- Official: To establish a program to preserve rural multifamily housing assisted under the Housing Act of 1949. as introduced.
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Official Summary
6/15/2009--Introduced.Rural Housing Preservation Act of 2009 - Amends the Housing Act of 1949 to require the Secretary of Agriculture to carry out a preservation program to provide financial incentives and other assistance to owners of Section 515 rural multifamily housing projects throughOfficial Summary
6/15/2009--Introduced.Rural Housing Preservation Act of 2009 - Amends the Housing Act of 1949 to require the Secretary of Agriculture to carry out a preservation program to provide financial incentives and other assistance to owners of Section 515 rural multifamily housing projects through long-term use agreements entered into between the project owners and the Secretary. (A Section 515 project is one involving housing and related facilities for elderly persons and families or other persons and families of low income.) Authorizes the Secretary to give priority to applications for eligible projects located on tribal trust lands or other Indian areas, in colonias, or in other small, poor, low-income communities.Requires the Secretary to prepare and approve a long-term viability plan for each eligible project for which the owner requests to participate. Allows the Secretary, subject to certain conditions, to offer a project owner a financial restructuring plan, based on the long-term viability plan, and specified project preservation incentives.Specifies compliance requirements for rents for any eligible households residing in a dwelling unit in any preserved Section 515 project, including:(1) a disregard for certain earned income for residents; and
(2) phase-in of rent increases.Establishes conditions that makes certain project owners ineligible to participate in the preservation program.Requires the Secretary to make rural preservation and rural tenant protection vouchers available to certain eligible households.Requires the Secretary to give priority, in entering into contracts involving financing for new construction of a Section 515 project, for projects located in eligible rural areas needing affordable low-income rental housing because of prepayment of Section 515 loans.
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Recent Blog Coverage
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Watchdog Report Vol.11 No.26 November 14, 2010 Est.05.05.00 – I go ...
As a co-sponsor of HR 2876, which reauthorized the Violence Against Women Act, I sent a strong message to the community that violence against women is unacceptable, and ensured that programs to address this problem continued to be ...
WashingtonWatch.com - H.R. 4868, The Housing Preservation and ...
See Related Bills: The Rural Housing Preservation Act of 2009 (H.R. 2876) · The Section 202 Supportive Housing for the Elderly Act of 2009 (S. 118). See Bills on the Same Subject: N/A. See Bills in the Same Budget Category: ...
USDA Home Loan Funding Announcement | Indiana USDA Home Loan Expert
(It has no provisions on rental housing preservation and is not related to H.R. 2876, The Rural Housing Preservation Act of 2009, which has been subsumed into H.R. 4868.) The program is expected to use the $12 billion previously ...
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