The current owners of the Heritage Apartments are trying to prepay a Department of Housing and Urban Development (HUD) mortgage and transfer the property in order to finance much-needed facility renovations. Unfortunately, HUD has refused to allow the owner to move forward with prepaying the mortgage unless they submit to restrictions that may jeopardize the property transfer and financing. HUD is well aware that approving the prepayment would result in the low-income tenants becoming eligible for enhanced housing vouchers. The vouchers will ensure that low-income tenants will still have affordable rates after the renovations are complete.

Rep. Markey said, “Protecting affordable housing in our local communities is critical. I have been frustrated by HUD’s refusal to move forward with this deal which will allow much-needed improvements to Heritage Apartments while ensuring that these at-risk tenants are not displaced. My amendment should put an end to the hemming and hawing and ensure that everyone will benefit, including the Heritage Apartments facility, the tenants and Malden at large.”

Rep. Markey’s amendment clarifies that HUD should approve the prepayment and property transfer and the resulting enhanced voucher eligibility for low-income tenants. The amendment was passed during House consideration of H.R. 1851, the Section 8 Voucher Reform Act. The bill now moved to Senate consideration.