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RCAC Provides Self-Help Housing Federal Funding Status Update
By Stanley Keasling, RCAC chief executive officer
This fiscal year continues to be a disruptive saga of short-term Continuing Resolutions (CR) instead of a federal budget for fiscal year (FY) 11. The nation is currently under the fifth such CR, which will expire on April 8. It is hoped that prior to April 8, the Senate and the House will reach an agreement on federal spending for this fiscal year, which is already half over. There is an approximate $50 billion gap between the current spending proposals in the House and Senate.
An agreement on spending is still being negotiated, but the good news is that in both bills, the program levels for both the 502 Direct and the 523 Self-Help Housing programs remained at the FY10 levels excluding the stimulus funding. This also is the level that has been in the short term CRs, and we remain hopeful that a CR for the balance of the year will fund these programs at FY 2010 levels.
While we are not certain of the final funding levels for FY 11, we need to continue to process both grant and loan requests to the point of obligation. With each CR, more funding has become available, but only those loans or grants that are ready for obligation can take advantage of this funding. There is no self-help housing set aside at the national office, so it is important for grantees to coordinate their funding needs very closely with the state U.S. Department of Agriculture Rural Development offices.
Everyone involved in the program is vital to making things work in these uncertain times and the efforts of all are appreciated.
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