Portion of Section 8 funding released
Guam - A portion of Section 8 funding has been released. The Guam Housing and Urban Renewal Authority was recently advised that U.S. HUD funding for housing assistance payments under the Section 8 program would be delayed due to limited and late funding assignments.
GHURA director Michael Duenas said, "And this particular cash flow issue that we are having now I think is tied into to the pending expiration of their borrowing authority and that we believe why there were some glitches in HUD being able to transfer the funds to us in a timely manner."
GHURA received the first increment of $1.4 million and those under the Section 8 program will begin seeing deposits to their accounts on Wednesday. Additional funding is expected to be made available later this month which means landlord payments will be delayed. Duenas says management at the agency continues to monitor the situation.