Budget Requests $95 Million for Section 515 Loans, Would End Multifamily Preservation Program

摘要

The Rural Housing Service (RHS) budget for fiscal 2011 requests $95 million for Section 515 multifamily direct loans, an increase from $70 million in fiscal 2010, but proposes termination of the multifamily preservation re-vitalization (MPR) program.rnThe Obama Administration said that Section 515 loans can be used for new construction and preservation and that the increased funds mark a policy favoring new construction.