CHAPA Testimony on the FY2010 State Budget – August 28, 2008
Testimony on DHCD’s FY 2010 Budget
Written by: Sean Caron
Director of Public Policy
Citizens’ Housing and Planning Association
Click here to view full text of testimony (PDF File)
New Coalition Forms to Address Crisis in Home Heating Assistance – July 25, 2008
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Advocates Join Forces to Prevent Human Tragedy This Winter State’s “Unmet Need” for Home Heating Assistance Estimated at $250 Million A diverse group of supporters representing elders, fuel companies, poor families, health care organizations, environmental groups and religious organizations across the state have joined together to demonstrate the critical need for significant increases in home heating assistance this winter in Massachusetts.
They estimate it will take $250 million to keep heating assistance at the same level as last year, which still left tens of thousands of families with empty oil tanks and caused well over 100,000 households to fall significantly behind on their utility bills, with the risk of shut-off imminent. Anticipated Fuel Assistance funding for the 2008-09 winter currently stands at only $83 million. Last year it was $137 million.
Summary of the Current State of Fannie Mae and Freddie Mac (NCRC) – September 9, 2008
On September 7, 2008, the U.S. Secretary of the Treasury, Henry Paulson, together with the Director of the Federal Housing Finance Agency (FHFA), James Lockhart, released a statement announcing the decision of Lockhart to place the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac under conservatorship. The Housing and Economic Recovery Act of 2008, signed into law on July 30, 2008, enabled expanded regulatory authority over the GSEs by the newly established FHFA and gave the Treasury the authority to advance funds for the purpose of stabilizing Fannie Mae and Freddie Mac. Since that time, the Treasury, Federal Reserve and FHFA have monitored the financial market, analyzed the current financial conditions of the GSEs and determined that it was necessary to take action.
A statement by Paulson outlines three additional steps that will be taken by the Treasury to complement the FHFA’s decision to place both GSEs in conservatorship. Together with the conservatorship, these additional steps are a direct result of collaboration between the Treasury, Federal Reserve and FHFA.
Please click here for a full PDF of the statement.
DHCD Announces Rental Housing Awards – August 14, 2008
Governor Deval Patrick today pledged more than $142 million from state housing programs and equity leveraged from private sector investment in low-income housing tax credits to support projects statewide that will yield 1,218 rental apartments, 1,124 of which will be affordable for low- and moderate-income residents.
Click here for full story.