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GAO-05-311R 1 (2005-03-16)

handle is hein.gao/gaocrptarid0001 and id is 1 raw text is: Sai Accountability * Integrity * Reliability United States Government Accountability Office Washington, DC 20548 March 16, 2005 The Honorable Christopher H. Smith House of Representatives Subject: Veterans Affairs Homeless Programs: Implementation of the Transitional Housing Loan Guarantee Program In 1998, Congress passed the Veterans Programs Enhancement Act, which authorized the Department of Veterans Affairs (VA) to establish a new loan guarantee program for the construction or rehabilitation of multifamily transitional housing projects specifically designed to provide housing for homeless veterans. The program is intended to increase the amount of housing available, as well as provide other services to encourage addiction recovery and reestablish work and social relationships. You asked us to examine why no multifamily housing projects are operational, given that the loan guarantee program was authorized over 6 years ago. Specifically, you asked us to provide information on (1) actions VA has taken to implement the Transitional Housing Loan Guarantee Program and (2) issues that have affected program implementation. To provide this information, we reviewed documentation for the Transitional Housing Loan Guarantee Program; the Federal Credit Reform Act of 1990 and other applicable criteria, such as Office of Management and Budget (OMB) circulars and a Federal Accounting Standards Advisory Board technical release; OMB's role in federal credit programs; and our past reports on housing for homeless veterans and other federal credit programs. We also interviewed the program development contractor and VA and OMB officials to obtain their views on program development and any issues that may have impacted implementation. Our work was performed from September 2004 through March 2005 in accordance with generally accepted government auditing standards. In summary, we found that since enactment of the legislation authorizing the loan program in 1998, VA has drafted regulations; designed the program, including working with program contractors to develop the loan terms and supporting infrastructure for processing and administering the loans; and consulted with OMB and sponsors (potential loan recipients) to conceive the initial housing projects. Program implementation has been affected by the challenges associated with creating VA's first transitional housing loan guarantee program for homeless veterans, deciding on program financing and structure including whether VA or the Department of Housing and Urban Development should manage the program, replacing the initial program development contractor, and addressing delays GAO-05-311R VA Transitional Housing

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