Community

Congresswoman Maxine Waters (CD-Inglewood), who chairs the Housing and
Community Opportunity Subcommittee, led Shaun Donovan, Secretary of
Housing and Urban Development (HUD), on a tour of several foreclosed
properties in South Los Angeles during a recent visit. Secretary Donovan
came to assess the impact of
local foreclosures.
A leader of foreclosure prevention efforts, Congresswoman Waters
spearheaded the effort in Congress to reate and the Neighborhood
Stabilization Program (NSP). She introduced legislation last year to
provide funding for states, counties and cities to assist communities hit
hardest by the foreclosure crisis and worked to build support among her
colleagues in Congress and among advocacy groups. The Housing and Economic
Recovery Act, passed by Congress in July 2008, included almost $4 billion
in neighborhood stabilization funding, after Congresswoman Waters insisted
such funds remain in the legislation despite President Bush's veto threat.
This year, Congresswoman Waters fought for and obtained the inclusion of
an additional $2 billion for NSP in the American Recovery
and Reinvestment Act that became law in February 2009.
In the first round of NSP funding, California's state and local
governments received a total of $530 million, including nearly $17 million
for the County of Los Angeles. HUD will accept applications in May from
states, local governments and non-profits for a second round of NSP
funding and award grants by July.
"I thank Secretary Donovan for visiting. . .California has had more
foreclosures than any other state, and almost one quarter of them are in
Los Angeles County. Today as we toured local neighborhoods, I was able to
show the Secretary the impact of the foreclosure crisis on California. I
am confident that partnerships created by the Obama Administration,
Congress, local governments and non-profit organizations will enable our
communities to
overcome the significant challenges we face in preventing foreclosures and
preserving communities," Congresswman Waters said.