The Congressional Budget Office has released its cost estimate for the Public Housing Reinvestment and Tenant Protection Act of 2010 (H.R. 5814). This measure, if enacted, would authorize the Obama Administration’s Choice Neighborhoods Initiative, which is the successor to HOPE VI.
Assuming appropriation of the authorized and necessary amounts, CBO estimates that implementing H.R. 5814 would cost $2.7 billion over the 2011-2015 period. Additional discretionary spending of $2.2 billion from amounts authorized over the next five years would occur after 2015. The estimate includes the cost of the actual grant, rental assistance, tenant protection vouchers, capital loan fund guarantees, funding for a pilot home-based health services program and amortization.
NH&RA’s HOPE VI/Mixed-Finance Working group has been a leading advocate to authorize to improve and authorize the Choice Neighborhoods Initiative. To learn more contact Thom Amdur at 202-939-1753 or [email protected].
