Delegation Announces $6.1 Million to Build Military Housing Says 1200 Military Families at LRAFB Will Benefit WASHINGTON, D.C. - Senators Mark Pryor and Blanche Lincoln and Congressman Vic Snyder announced today that the United States Air Force has awarded the Little Rock Air Force Base $6.1 million to help privatize 1200 units for military family housing that will replace or renovate current units considered to be inadequate and below the Air Force housing standards.
Members of the congressional delegation said the credit subsidy, provided as part of the Military Housing Privatization Initiative, will assist a private developer finance, plan, design and construct improvements, as well as own and operate a rental housing development for 1200 military families. The developer will demolish 607 units (335 of which are surplus), construct 272 new units, completely renovate 594 homes and make minor renovations to 334 homes. Payment of rent and reasonable utility costs will not exceed service members' Basic Allowance for Housing (BAH).
"Military families at the Little Rock Air Force Base have been waiting a long time for access to safe, quality and affordable housing," Pryor said. "This funding helps the government and developer move forward in turning blueprints into reality."
"This long-overdue investment to improve conditions at the Little Rock Air Force Base will provide Arkansas military families with the quality housing they deserve," Lincoln said. "There is no way to fully repay our men and women in uniform for their service and sacrifice, but we should do everything we can to ensure that they enjoy the best quality of life we can provide them."
"Little Rock Air Force Base is a real jewel, and Air Force families know it," Snyder said. "These improvements in housing make it even better."
The Military Housing Privatization Initiative (MHPI) was enacted in 1996 to address the poor condition of Department of Defense (DoD) owned housing and the shortage of affordable private housing of adequate quality. Under this initiative, DoD can work with the private sector to revitalize military housing by employing financial tools, including direct loans, loan guarantees, equity investments, conveyance or leasing of property or facilities, and rental guarantees.
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