In a step forward in the Obama Administration’s desire to streamline government policies and build stronger inter-agency partnerships, USDA Rural Development, the US Department of Housing and Urban Development (HUD) and the Pennsylvania Housing Finance Agency (PHFA) jointly announced the launch of a pilot program that will reduce regulatory burdens on affordable housing developers and owners. The program will help state and federal agencies better serve low-income families who rent their homes by reducing regulations across several layers of government.
According to Tammye Trevino, USDA administrator for Housing and Community Facilities who attended and signed the official Memorandum of Understanding (MOU) in Harrisburg, this is one of seven pilot programs of its type across the country aimed at reducing paperwork and the amount of time needed to review financing sources for rural rental housing.
HUD Regional Administrator Jane C.W. Vincent agreed that reducing regulations is one of the top priorities in HUD’s strategic goals, and that this effort will create a faster, simpler application process for those pursuing financing options with the federal government.
Brian A. Hudson Sr., PHFA Executive Director and CEO was delighted to participate in the agreement, citing that, “All too often rental housing projects are funded by more than one agency….the winners of this agreement will be the developers and owners who can better concentrate on delivering housing resources to those in need, state and federal agencies that serve families, and, of course, the residents of affordable housing.”
The MOU approved by HUD, USDA Rural Development and PHFA is an administrative solution that better aligns and uses state and federal affordable rental housing program policies.
To find out how USDA Rural Development can assist in developing rental housing in your rural area, click here.