Sen. Wayne Allard, chairman of the Subcommittee on Housing and Transportation, has announced a hearing on the Department of Housing and Urban Development's Section 8 housing assistance program.

Increasingly, owners of below-market rental housing projects subsidized by the Section 8 program are choosing to exercise their right to discontinue participation in the program and "opt-out" upon the expiration of their existing Section 8 contracts. In 1998, owners of more than 215 properties with approximately 25,000 subsidized units voluntarily "opted-out" of the Section 8 program.

"The Department of Housing and Urban Development faces the potential loss of a significant portion of the Section 8 project-based housing stock unless swift action is taken," Allard said. "This hearing will help determine how HUD is responding to the Section 8 ‘opt-out' problem and whether additional Congressional action is needed."

WHEN:

9:30 a.m. Thursday, July 1, 1999

WHAT:

Senate Committee on Banking, Housing and Urban Affairs
Subcommittee on Housing and Transportation

WHERE:

538 Dirksen Senate Building

WHO:

The Honorable Rod Grams (R-MN)
United States Senator

The Honorable John Kerry (D-MA)
United States Senator

The Honorable Christopher Bond (R-MO)
United States Senator

The Honorable James Jeffords (R-VT)
United States Senator

The Honorable Rick Lazio (R-NY)
United States Representative

The Honorable Barney Frank (D-MA)
United States Representative

The Honorable William Apgar
Assistant Secretary for Housing and Federal Housing Commissioner
Department of Housing and Urban Development