NAHB praises VA/HUD bill

The Veterans Administration/Housing and Urban Development appropriations bill approved by Congress Oct. 19 contains solid funding levels for several critical housing programs that are important to the home building industry and housing consumers, according to the National Association of Home Builders.

The appropriations bill includes $32.4 billion in HUD program funding for fiscal year 2001, an increase of $5 billion over the previous fiscal year. Other highlights include:

Record funding for Community Block Grant ($5.1 billion) and HOME ($1.8 billion) programs;

The largest increase in housing vouchers in more than 15 years ($452 million for 79,000 new incremental Section 8 housing assistance vouchers);

$101 million for the multifamily credit subsidy; and

A 27-month extension of the FHA downpayment simplification.

"HUD's best budget in 20 years is a great first step in meeting the housing needs of some of America's most vulnerable citizens," said Robert Mitchell, NAHB president, in a release. "But at a time when there is a growing shortage of affordable housing, the nation's home builders strongly urge Congress to take the opportunity to pass key barrier removal provisions within H.R. 1776 ..."