Mark-to-Market program

As used by the Department of Housing and Urban Development, a HUD program to eliminate higher than market rental rates for low-income housing owned by private developers.There was nothing wrong with this,originally.HUD wanted to encourage developers to build such housing, so it offered to subsidize the rents and pay developers the difference between the income-based rents paid by the tenants and a developer-set unit rent that could be higher than local market conditions. If developers could receive above-market rents and income guaranteed by HUD,anyone would naturally start building lots of low-income housing.Now,however,the properties have been enjoying above-market rents for many years,and HUD wants it to end. The Mark-to-Market program is a staged termination of those incentives, requiring low-income housing facilities to charge market rents,and no higher.

单词	mark-to-market program
释义	Mark-to-Market program Mark-to-Market program As used by the Department of Housing and Urban Development, a HUD program to eliminate higher than market rental rates for low-income housing owned by private developers.There was nothing wrong with this,originally.HUD wanted to encourage developers to build such housing, so it offered to subsidize the rents and pay developers the difference between the income-based rents paid by the tenants and a developer-set unit rent that could be higher than local market conditions. If developers could receive above-market rents and income guaranteed by HUD,anyone would naturally start building lots of low-income housing.Now,however,the properties have been enjoying above-market rents for many years,and HUD wants it to end. The Mark-to-Market program is a staged termination of those incentives, requiring low-income housing facilities to charge market rents,and no higher.
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