February 2009

• CBPP Report: Decade of Neglect has Weakened Federal Low-Income Housing Programs

  A report released this week by the Center on Budget and Policy Priorities, Decade of Neglect has Weakened Federal Low-Income Housing Programs, addresses the large and growing number of low-income renters face unaffordable housing costs. more

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  Worse Than a Tornado: Neighborhood Stabilization Amid the Foreclosure Crisis

  NHI’s David Sailer appeared in the February 2009 issue of Planning magazine to address “the insidious destruction of entire neighborhoods now goes largely unnoticed.” With few exceptions, he says, “we allow thousands of properties to be abandoned or sent into legal limbo,” while encouraging the development of new housing. Sailer calls for implementation of a system that will allow organizations with a long-term commitment to local neighborhoods to acquire large numbers of scattered-site, bank-owned properties. Click here to download the PDF file. more

• How to Begin the Process of Repairing Communities Damaged from Foreclosures?

  NeighborWorks America with StableCommunities.org, have released Post-Foreclosure Community Stabilization Strategies: Case Studies and Early Lessons 2008 that looks at 14 case studies, representing 13 different nonprofit organizations, outlining strategies that those nonprofits employ to help to begin repairing damaged communities more

• Obama Announces $275 Billion Homeowner Affordability and Stability Plan

  The Obama administration announced February 18 its Homeowner Affordability and Stability Plan that aims to offer assistance to as many as 9 million homeowners making a “good-faith effort to stay current on their mortgage payments,” while attempting to address the impact of foreclosures on communities and families. more

• Task Force Calls For Additional NSP Funding

  A cross-industry group of nearly 100 local and national organizations concerned about the foreclosure crisis’ impacts on communities have formed a task force, calling for a $4 billion addition to the American Recovery and Investment Act of 2009 for the Neighborhood Stabilization Program. more

• Stimulus Plan Includes Smaller Subsidy for Home Buyers

  When the Senate Wednesday agreed to a package of $789 billion in emergency spending and tax cuts in an effort stave off a deep recession, it lowered a once-$15,000 subsidy for new homebuyers to now $8,000. more

• National Commission on Fair Housing and Equal Opportunity releases “The Future of Fair Housing

  The National Commission on Fair Housing and Equal Opportunity released “The Future of Fair Housing,” a comprehensive report that details the findings of a six-month-long, cross-country investigation into the state of fair housing in America. more

• HUD Deputy Secretary to be Nominated

  President Barack Obama today announced he intends to nominate Ron Sims, County Executive of King County, Washington, to become the Deputy Secretary at the U.S. Department of Housing and Urban Development (HUD). As the Deputy Secretary, Sims will be charged with managing HUD’s day-to-day operations, a nearly $39 billion annual operating budget and the agency’s 8,500 employees. more

• Jersey City redevelopment chief named year’s best public official

  Robert Antonicello, executive director of the Jersey City Redevelopment Agency, was recently honored as Public Official of the Year by the New Jersey District Council of the Urban Land Institute (ULI-NNJ) more