Political Quotes

“I appreciate the concerns and efforts of the Senator from Iowa in this area. I share his concern about preserving elderly rural housing and that any adverse effect on elderly residents be minimized. Clearly, we expect that there will be instances in which participating administrative entity may need to look at rents outside the jurisdiction to best determine comparable rents. This concept is borne out in the definition of ``comparable properties'' in section 512(1) where such properties are defined as meaning ``properties in the same market areas, where practicable, that (A) are similar'' in various indicated ways to the project at issue, including ``type of location,'' ``unit amenities,'' and ``other relevant characteristics.'' The addition of the words ``type of'' was added to meet the concerns you and others expressed that the lack of comparable housing for the elderly in relatively low population markets calls for appraisers to, within the normal practices, to use comparables in similar types of locations in other markets when there are not two comparable properties in the market.”