BUDGET: Plan Your 2012 Budget With This Federal Funding Breakdown

Note: HUD may change its allocations if industry groups get their way.

Rest assured, there will still be funds available to renew all Project Rental Assistance Contract (PRAC) agreements and new authorities, the Department of Housing and Urban Development has announced.

Congress has passed a spending bill for HUD for 2012 that will require significant spending cuts and does not provide for any new capital advance funds for new construction. (For details on the 2012 budget, see "Expect Rent Caps And Limits On Residual Receipts in 2012" in Assisted Housing Alert, Vol. 7, No. 12.)

Good news: Though the 2012 budget requires cuts, it's not all bad news. Here's a breakdown of how the funds will be used:

• Funding will be available to support all PRAC renewal......