NOW, THEREFORE, BE IT RESOLVED, that the US Conference of Mayors commends HUD’s leadership for working together with the USCM, the housing community, and the Congress in putting forth its Section 8 emergency policy, and strongly urges:

The President and the Congress to provide full funding in FY ‘00 of the Administration’s estimated $10.8 billion in budget authority needed for Section 8 contract renewals, plus funding necessary to restore any FY ‘99 Section 8 rescission or deferral or to implement HUD’s new "mark up" policy and any other policy adopted by Congress to preserve affordable housing and protect tenants, without diverting any resources from the CDBG, HOME, public housing or other important housing and community development programs; The President, the Congress, and the U.S. Department of Housing and Urban Development to adopt any additional policies that are necessary to implement and supplement HUD’s new emergency "mark up" policy to preserve existing affordable housing without encouraging "opt-outs," such as assuring that preservation is the preferred policy option, that HUD has authority to provide proposed renewal contract rents at least equivalent to the rents available through opt-out, and that preservation solutions are developed for those properties ineligible for funding under HUD’s new policy criteria. The President and the Congress to prevent tenant displacement by providing "enhanced vouchers" to residents of below-market buildings where owners elect not to renew their Section 8 contracts; and The President and the Congress to preserve affordable housing stock by adopting tax policies that specifically encourage the transfer of properties to qualified community-based nonprofit organizations and public agencies, or other purchasers to commit to equivalent long-term affordability restrictions, which demonstrate resident support and commitment to meeting the needs of residents.