Press room
Press Room
Statement on H.R. 3221, the "Housing and Economic Recovery Act of 2008"
Contact: Mary
Barron, 202-289-3500 ext. 7223
WASHINGTON, July 30--
The National Association of Housing and Redevelopment Officials
(NAHRO) applauds the President for signing H.R. 3221, the "Housing and
Economic Recovery Act of 2008," into law earlier today. The Act includes
several items that NAHRO has consistently argued are of vital importance to
the housing and community development needs of our nation, including a permanent
GSE-financed affordable housing production program and special Community Development
Block Grant (CDBG) funding to support state and local efforts to stabilize neighborhoods
with high numbers of vacant and foreclosed homes.
NAHRO also welcomes the inclusion of the Public Housing Disaster Relief Act
of 2008 as part of the omnibus housing package. This common sense reform clears
the way for local housing agencies to access FEMA funding for the permanent
repair and reconstruction of public housing units following natural disasters
and other emergencies and has been a major NAHRO legislative goal for nearly
three years. NAHRO is also pleased that H.R. 3221 includes Small Public Housing
Authorities Paperwork Reduction Act, which eases the administrative burden for
smaller housing agencies. Additionally, H.R. 3221 includes needed reforms to
the Low Income Housing Tax Credit program. These important reforms will improve
this successful program's ability to attract capital to support the expansion
of our nation's affordable housing inventory.
"H.R. 3221 is perhaps the most significant piece of housing legislation
in years," said NAHRO's President Renee Rooker. "We are pleased that
Congress and the President have decided to take action to assist families and
communities hurt by the foreclosure crisis, to address the nation's economy,
and to bring housing issues into the forefront where they belong."
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