The moderate and low-income tenants have been provided with new and rehabilitated rental housing under the Section 236 Rental Assistance Program. This program was created in 1968 to improve the country's existing housing supply, along with other housing proposals. It merged with the Federal Housing Administration mortgage insurance with the usual tax benefits for residential development, special tax benefits for moderate and low income housing, and a direct mortgage interest subsidy. This mixture of subsidies and mortgage term of 40 years resulted in much lower rents that could have been possible in conventionally financed projects.
Section 236 has been essential in supplying housing at a time when the supply of moderately priced rentals for moderate income families was dwindling. Section 236 construction has completed and the Department of Housing and Urban Development (HUD) has declined to make any new commitments under it. However, the present public policy provides housing assistance to low, middle and upper income household and also benefit from tax expenditures for mortgage interest deductions and tax benefits for rental housing. The housing subsidy costs has not been analyzed properly as small considerations have been given to long-term costs or indirect subsidies. Alternatives to construction continue to be stressed primarily because of short-term cost savings.
This session by our expert speaker Paul Flogstad will provide you with real-world solutions that have worked and not just textbook answers on the Section 236 Housing Program. In this real-world course, Paul will be sharing his many experiences with you to enhance the learning and provide you with a vision to have a serious view of your property and make it a success.
Who should attend?
Paul has been involved in the real estate industry for the past 38 years. He has been involved in sales, construction, project management, appraisal, property management and property management consulting/training. Through his consulting company, Property Management Solutions, he provides training and consulting servi... More info