|HUD No. 00-35|
|Further Information:||For Release|
|In the Washington, DC area: 202/708-0685||Friday|
|Or contact your local HUD office||February 18, 2000|
CUOMO ANNOUNCES $2.3 MILLION CONTRACT AWARD TO PUBLIC HOUSING FINANCE AGENCY IN IOWA
WASHINGTON - Housing and Urban Development Secretary Andrew Cuomo today announced the award of a $2.3 million contract to the Iowa Finance Authority to help ensure that low-income families in Iowa live in well-maintained and well-managed apartments.
"HUD will work in partnership with the Iowa Finance Authority to ensure that landlords receiving HUD rental assistance subsidies meet their obligation to provide decent, safe and sanitary housing to families in need," Cuomo said.
The housing finance agency will work on HUD's behalf as contract administrator with landlords that provide HUD-subsidized apartments in privately-owned buildings under the Section 8 program. The housing finance agency will perform various duties for HUD including management and occupancy reviews, contract terminations, renewals and expirations, and follow-up on physical inspections of apartment projects.
The Iowa Finance Authority currently administers the Low-Income Tax Credit Program for the State of Iowa. The Authority also administers a Housing Assistance Fund, which provides financial assistance in the form of loans and grants to owners and developers to increase the supply of affordable housing, along with Homeless Shelter Grant Programs and Single Family Mortgage Loan Programs.