NYSPHADA UPDATE
Created: 2009-02-23 08:33:57
Dear NYSPHADA Members:
It's official!
Congratulations! President Obama has just signed into law the most sweeping economic reform package in decades. The $787 billion rescue plan has been designed to create millions of jobs, shore up our infrastructure, reinvigorate consumer spending and improve our Nation's long-term economic viability.
Thanks to you and your colleagues across the Country, the law provides $4 billion in public housing capital funds. Of that amount, $3 billion will be distributed through the existing formula, and the remaining is expected to be distributed through competition.
The Fiscal Year 2008 appropriation for the capital fund was $2.4 billion, so you may tentatively expect a capital fund "stimulus bonus" of your last year's funding plus 25%.
You are strongly encouraged to compete for additional funds as well. Details will be forthcoming.
Join us in Washington, DC!
Please join us as we lobby Congress and the Administration on behalf of NYSPHADA. We will be meeting March 16-18, in conjunction with NAHRO's Annual Legislative Conference. We are scheduling a planning conference call for early next week, so please let me know if you will be joining us. I believe the following are currently planning to attend: Cohoes, Elmira, Hornell, Ithaca, Schenectady, and Watervliet.
Sincerely,
Melody Fennel
NYSPHADA Legislative Consultant
Melody H. Fennel
Fennel Consulting, LLC
101 Constitution Avenue, N.W.
Suite 900 East
Washington, D.C. 20001
phone: 202.742-4557
fax: 202.315-3045