Annual Affordable Housing Update:
Opportunities in a Changing Economy
July 10 - 11, 2008
The Blackstone, A Renaissance Hotel
Chicago, IL
Conference Overview
As 2008 opened, Congress returned to a full housing agenda including Federal Housing
Authority modernization, Low- Income Housing Tax Credit reform, and affordable housing
preservation. After months of negotiation, Congress and President Bush reached an
agreement on the $555 billion Fiscal Year 2008 omnibus appropriations bill. The
total FY '08 appropriations for HUD is $37.6 billion, a $1.4 billion increase over
FY '07. Funding for key housing programs includes $6.4 billion for project-based
Section 8; $16.4 billion for Section 8 vouchers, including enhanced vouchers; $4.2
billion for the public housing operating fund; $3.6 billion for CDBG; $735 million
for Section 202 elderly housing; and $100 million for HOPE VI.
At the same time, the fallout from the subprime mortgage crisis has absorbed tremendous
amounts of capital causing a decline in available investment dollars. This liquidity
crunch has caused tax credit pricing to decrease, increasing the need for additional
federal resources.
With this backdrop comes challenges in light of the 2007 Section 8 subsidy shortfalls
and concerns about shortfalls in this and other programs in 2008. Led by industry
experts, this conference will provide candid insights, observations and real-life
examples for how to address these issues in a changing economy.
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