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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Commonwealth of Pennsylvania v. James T. Lynn, Secretary of Housing and Urban Development, 501 F.2d 848 (1974)

Citation
Commonwealth of Pennsylvania v. James T. Lynn, Secretary of Housing and Urban Development, 501 F.2d 848 (1974)
Parent Document
Commonwealth of Pennsylvania v. James T. Lynn, Secretary of Housing and Urban Development, 501 F.2d 848 (1974)
Effective Date
1974-09-25

Other Sections in This Document (236)

Full Text

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The Secretary’s study made three crucial findings about the operation of Section 236. First, the program provides a rent subsidy “mainly to moderate-income households.” Second, the annual subsidy tends to increase with family income. Third, the average Section 236 unit costs 20% more to construct than a comparable unit privately financed. In addition, the ten-year projected default rate of 20% indicates that the program insurance fund is actuarially unsound.