One-for-one replacement in the redevelopment of public housingand granting displaced tenants an absolute right of return areamong the bill's components. It also extends the Federal EmergencyManagement Agency's housing assistance and, when that expires,moves eligible households to the Department of Housing and UrbanDevelopment's assistance.
The bill was introduced by representatives Barney Frank (D-MA),chair of the House Financial Services Committee, and Maxine Waters(D-CA), chair of the Subcommittee on Housing and CommunityOpportunity.
According to NLIHC testimony, at least 150,000 families on theGulf Coast remain displaced, as reported by GlobeSt.com.Next on NLIHC's wish list is the Federal Housing Finance Reform Actof 2007, which includes a provision for an AffordableHousing Fund. Sheila Crowley, president of NLIHC, alsorecently testified in support of this bill.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
