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Section 8 "new construction," as its title implies, is a program <br />through which housing for low and moderate income tenants is built. <br />Such projects are sponsored by private developers, non-profit <br />associations or local housing authorities. The sponsor enters <br />into an agreement with HUD outlining how the project will be <br />built and managed, i.e. how many units will be subsidized and <br />what the range of rents will be. <br /> <br />Other federal subsidy programs have been implemented over the <br />years with variable success. Among these programs are those known <br />by their Housing Act references as Sections 23, 221, 235 (owner <br />occupied), and 236. Section 8, however, has recently been the <br />federal government's primary vehicle for providing housing sub- <br />sidies. <br /> <br />The relevance of another federal program, the Housing and Com- <br />munity Development Act of 1974, to local housing needs will be <br />discussed below under Implementation Program 9 ("Landbanking") <br />and under Subgoal II, "Housing Preservation and Rehabilitation." <br /> <br />The State of California has attempted to facilitate development of <br />lower and moderate income housing through the activities of the <br />California tiousing Finance Agency and the Department of Housing <br />and Cor~nunity Development. The State programs basically represent <br />a still evolving state housing policy focusing on the construction <br />of housing. These programs seem basicOily directed at bond market <br />activities in order to provide revenues to subsidize new con- <br />struction. <br /> <br /> -7- <br /> <br /> <br />