Obama: $5.2Billion for “Neighborhood Stabilization Programs”

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[Sharky]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

What' exactly is a “Neighborhood Stabilization Program,” anyway?

Sounds like the HUD program:

HUD’s new Neighborhood Stabilization Program will provide emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The Neighborhood Stabilization Program (NSP) provides grants to every state and certain local communities to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes.

http://www.hud.gov/offices/cpd/commu...ighborhoodspg/

[Roughneck]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

You didn't think they were gonna register all those illegal voters for nothing did you

[politicalfootballfan]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

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[World Traveler]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

Both parties do it, they just have different constituencies.

And $5 billion is NOTHING compared to what Halliburton got for Iraq contracts (where Dick Cheney had been CEO). Tens and tens of billions of dollars.

Another example is Blackwater, the private security company with strong Republican ties, that got $1.25 billion dollars of contracts from the Bush Administration, only to cause an international incident when they blew away (as in dead) some innocent Iraquis while clearing the road for some incoming U.S. dignataries.

Just go through a list of defense contractors used by the Bush Administration and you'll see my point.

[Sharky]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

Nope, this money is for ACORN, a nonprofit organization.... from the article:

HUD used to be the dispensing agency for "Neighborhood Stabilization" funds; the bill appears to bypass that route for ACORN. The purpose of the money is "theoretically" the same, although in reality I doubt that's the case; it seems like a simple political quid pro quo.

From the article:

Regarding the Neighborhood Stabilization Program, Vadum writes in American Spectator: “Although ACORN operatives usually get their hands on such funds only after they have first passed through the U.S. Department of Housing and Urban Development or state and local governments, the new spending bill largely eliminates these dawdling middle men, making it easier to get Uncle Sam's largess directly into the hands of the same people who run ACORN's various vote fraud and extortion rackets. And the legislative package provides these funds without the usual prohibition on using government money for lobbying or political activities.”

[tsetsefly]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

Both parties do it, they just have different constituencies.

And $5 billion is NOTHING compared to what Halliburton got for Iraq contracts (where Dick Cheney had been CEO). Tens and tens of billions of dollars.

Another example is Blackwater, the private security company with strong Republican ties, that got $1.25 billion dollars of contracts from the Bush Administration, only to cause an international incident when they blew away (as in dead) some innocent Iraquis while clearing the road for some incoming U.S. dignataries.

Just go through a list of defense contractors used by the Bush Administration and you'll see my point.

yup, america has one party system when it comes to politics. THey only differ slightly in who they dole out favors to.

We need real change a 2nd and 3rd party to arise, but it wont happen anytime soon because both republicans and democrats have rigged the game in their favor...

[Slimprofits]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

But revised language in the stimulus bill would make the funds available directly to non-profit entities such as ACORN

Maybe the funds won't go to ACORN? I'm not nieve, just wondering if there other groups?

excerpt of relevant text from H.R. 1:

Community Planning and Development

community development fund

For an additional amount for `Community Development Fund' $1,000,000,000, to carry out the community development block grant program under title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.): Provided, That the amount appropriated in this paragraph shall be distributed according to the same funding formula used in fiscal year 2008: Provided further, That in allocating the funds appropriated in this paragraph, the Secretary of Housing and Urban Development shall not require an additional action plan from grantees: Provided further, That in selecting projects to be funded, recipients shall give priority to projects that can award contracts based on bids within 120 days from the date the funds are made available to the recipients; Provided further, That in administering funds provided in this paragraph, the Secretary may waive any provision of any statute or regulation that the Secretary administers in connection with the obligation by the Secretary or the use by the recipient of these funds (except for requirements related to fair housing, nondiscrimination, labor standards, and the environment), upon a finding that such waiver is required to facilitate the timely use of such funds and would not be inconsistent with the overall purpose of the statute.

For a further additional amount for `Community Development Fund', $4,190,000,000, to be used for neighborhood stabilization activities related to emergency assistance for the redevelopment of abandoned and foreclosed homes as authorized under division B, title III of the Housing and Economic Recovery Act of 2008 (Public Law 110-289), of which--

(1) not less than $3,440,000,000 shall be allocated by a competition for which eligible entities shall be States, units of general local government, and nonprofit entities or consortia of nonprofit entities: Provided, That the award criteria for such competition shall include grantee capacity, leveraging potential, targeted impact of foreclosure prevention, and any additional factors determined by the Secretary of Housing and Urban Development: Provided further, that the Secretary may establish a minimum grant size: Provided further, That amounts made available under this Section may be used to (A) establish financing mechanisms for purchase and redevelopment of foreclosed-upon homes and residential properties, including such mechanisms as soft-seconds, loan loss reserves, and shared-equity loans for low- and moderate-income homebuyers; (B) purchase and rehabilitate homes and residential properties that have been abandoned or foreclosed upon, in order to sell or rent such homes and properties; (C) establish and operate land banks for homes that have been foreclosed upon; (D) demolish foreclosed properties that have become blighted structures; and (E) redevelop demolished or vacant foreclosed properties in order to sell or rent such properties; and

(2) up to $750,000,000 shall be awarded by competition to nonprofit entities or consortia of nonprofit entities to provide community stabilization assistance by (A) accelerating state and local government and nonprofit productivity; (B) increasing the scale and efficiency of property transfers of foreclosed and vacant residential properties from financial institutions and government entities to qualified local housing providers in order to return the properties to productive affordable housing use; (C) building industry and property management capacity; and (D) partnering with private sector real estate developers and contractors and leveraging private sector capital: Provided further, That such community stabilization assistance shall be provided primarily in States and areas with high rates of defaults and foreclosures

and so on.

[we_are_toast]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

Newsmax.com :p

Just right wing propaganda from a goofy website.
How silly can you get? 5.2B to acorn! Ha ha ha ha!

[WDCRob]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

5.2B to Acorn is so ridiculous on its face that it's a wonder anyone would take it seriously.

btw... if you bought the line of nonsense being vomited by McCain and his enabling nutcases about Acorn prior to the (2004, 2006, 2008) election doesn't it ever occur to you to wonder where this story goes in the intervening two years?

I mean if Acorn was "on the verge of maybe perpetrating one of the greatest frauds in voter history in this country, maybe destroying the fabric of democracy," wouldn't someone in the Republican Party want to do some follow up?

Or could it be that they know 27% of the country (+/- 3.2%) is willing to be fooled all the time? And that no matter how many times they trot out the same lie, you'll buy it.

[skidder]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

If you want to know the "real deal" with what goes on at HUD, take the time to read what Catherine Austin-Fitts has to say on the matter (former ass't HUD secretary)

http://housingresearchorg.blogspot.c...ts-on-hud.html

[phirang]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

Time to go long slums in detroit!!!

[fliped42]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

I have dealt directly with Acorn. They are an activist group who will do anything to assert their power. We were at a city council meeting getting site plan approval for a major project when they burst in 25 people screaming "what do we want, affordable housing, when do we want it now" they disrupted the meeting for 20 min. The politicians said nothing and then demanded we change our site plan to include a subsidized housing component (Although there were no zoning laws requiring it) .

And on the subject of non-profit affordable housing. There are a lot of great affordable housing developers but I know of some horror stories where politically active non-profits get affordable housing moneys and then can never complete the projects due to large cost overruns primarily due to lack of experience. Unfortunatley I know firsthand that alot of this money will be mismanaged away.

[petertribo]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

$5.2 BILLION to ACORN

$150 BILLION to AIG alone.

Figures don't lie, the radical left has taken over Washington! Geithner is Che in a suit.

[politicalfootballfan]

Re: Obama: $5.2Billion for “Neighborhood Stabilization Programs”

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