The Wallick Companies Urges Congress to Avert Budget Crisis

Feb 28, 2013, 13:30 ET from The Wallick Companies

COLUMBUS, Ohio, Feb. 28, 2013 /PRNewswire/ -- Owners of The Wallick Companies, Ohio's largest owner and manager of affordable housing, is urging both parties in Congress to work together toward a solution that would avoid the automatic across-the-board budget cuts triggered through the Budget Control Act of 2011. Leaders at Wallick today sent letters to the entire Ohio Congressional delegation urging action. The letter follows.

February 28, 2013 

I am writing to ask you to oppose the automatic spending cuts – also called the sequester – due to go into effect on March 1.

As Ohio's largest owner and manager of affordable housing, we will see the detrimental impacts of these upcoming cuts first hand. Nationwide, 125,000 families will be at immediate risk of homelessness due to cuts to HUD's Housing Choice Voucher Program.[i] 

While this is bad news on its own, the sequester cuts also fail to appropriate sufficient funds to make contractual Section 8 payments.  The effect of the insufficient funds to this program may not only leave many American's without housing options, but will leave owners without funding to pay their mortgages.  In essence, HUD could be left with unpaid mortgages due to the number of Section 8 projects with HUD debt. [ii]

Beyond the cuts to housing programs, residents at our communities are helped by other federal programs that are due to be cut as a result of the sequester. These include nutrition assistance for women and children through WIC, Head Start and Early Start, nutrition assistance for seniors, childcare services, preventive childhood vaccines, special education, Title I education services for disadvantaged children, and job training programs, as well as several others.

Lives of Ohio's most vulnerable citizens – children and seniors – are put at serious risk with the sequester.

We would be happy to schedule a meeting to discuss this issue further, or if you would like to tour one of our communities to meet residents who would be adversely impacted by these cuts, please let us know. You may contact CEO Tom Feusse, directly, at 614-552-5605.

Thank you for your time and consideration.

Sincerely yours,

Howard Wallick

Julie Wallick

Tom Feusse
CEO and Co-Owner                                                                         

[i] source: "Impact of March 1st Cuts on Middles Class Families, Jobs and Economic Security: Ohio" issued by The White House

[ii] source: "Implications of Inadequate Funding of Project-Based Section 8 Contracts and Rental Assistance Contracts for Rural Properties" developed by the National Leased Housing Association and its industry partners

CONTACT: Stephanie Tresso, 614-221-2885 x15 or Tom Feusse, 614-552-5605

SOURCE The Wallick Companies