Action Alert 11/22/09

Downtown Congregations to End Homelessness

Action Alert November 22, 2009

IMMEDIATE ACTION: E-MAIL YOUR SENATORS AND REPRESENTATIVE TO URGE THEM TO FUND THE NATIONAL HOUSING TRUST FUND. ACTION ON DEC. 1 OR 2: CALL THEM WITH THE SAME MESSAGE.

The  Message: urge your elected officials this week to co-sponsor these bills to fund the National Housing Trust Fund; H.R. 3766, the “Main Street TARP Act”, in the House and S. 1731, the “Preserving Homes and Communities Act” in the Senate.

Talking Points:

• Tell Your Story: Talk about why creating and preserving housing is important to you and to the community!  Talk about your values as a person of faith.
• Request Support for Funding:  Ask your   Senators and Representatives to be a co-author of the bills to support and dedicate funding for this new program.

Additional  information: Legislation providing $1 billion in funding for the National Housing Trust Fund has been introduced in both the House and the Senate.  Sen. Jack Reed (RI) introduced “Preserving Homes and Communities Act” and Rep. Barney Frank (MA) introduced “Main Street TARP Act”. The trust fund is a new program created in 2008 to create or preserve mostly rental housing for extremely low income households. It is currently unfunded.  These are billion dollar phone calls and emails!

Whom  to call:

Senator Amy Klobuchar                             202-224-3244    www.klobuchar.senate.gov

1^st Dist Rep. Tim Walz                                202-225-2472    www.walz.house.gov

2^nd Dist Rep. John Kline                             202-225 2271     www.kline.house.gov

3^rd Dist Rep. Erik Paulsen                           202-225-2871     www.paulson.house.gov

4^th Dist Rep. Betty McCollum                    202-225-6631     www.mccollum.house.gov

5^th Dist Rep. Keith Ellison                          202-225-4755     www.ellison.house.gov

6^th Dist Rep. Michelle Bachmann              202-225-2331     www.bachmann.house.gov

7^th Dist Rep. Collin Peterson                      202-225-2165     www.collinpeterson.house.gov

8^th Dist Rep. James Oberstar                      202-225-6211     www.oberstar.house.gov

senator al franken has already signed as a co-sponsor of the legislation

Background Information

Program and Impact

The National Housing Trust Fund (NHTF) is a new program created in 2008 to create or preserve mostly rental housing for extremely low income households.

At least 90% of funds are for rental housing, with 75% of rental funding for extremely low income households.

Proposed $1 billion in funding could bring $11 million to Minnesota (1.1% is estimate by NLIHC of MN share of Trust Fund).

Background

National Housing Trust Fund authorized in 2008 Housing and Economic Recovery Act (HERA):

• Uses dedicated funding
• Fannie Mae/Freddie Mac was intended to capitalize program, but now new funding source(s) required after Government Sponsored Enterprises placed in receivership.
• NLIHC goal is to finance 1.5 million affordable units over 10 years.

Policy Issues

Federal:

• Advocates want $5 billion per year for 10 years.
• Obama administration 2010 budget includes $1 billion for NHTF, but source still undecided.
• On 9/30/09, Sen. Reed (D-RI) introduced legislation (S. 1731) to provide $1 billion for NHTF out of sale of financial investments connected to the Troubled Assets Relief Program (TARP).
• On 10/9/09 Rep. Frank (D-MA) introduced Main Street TARP Act of 2009 (H.R. 3766) which provides $1 billion for NHTF from unexpended assets of TARP, as a revision of his previous bill.

State:

• MN Federal Housing Action Coalition supports $5 billion/year to build, preserve, and rehab 1.5 million units over 10 years.