(HUD) Use of Choice Neighborhood Initiative Funds Restricted in Latest Proposal:  After fielding complaints from leading housing organizations, HUD officials place new limits on how Choice Neighborhood Initiative (CNI) money would be used as part of its latest proposal under examination by Congress. HUD on March 11 offered up in ...  Read More  03/17/2010 6:32 PM

(STATES) OH State Lawmakers Moving Land Bank Creation Bill:  Ohio state senators are close to sending legislation to the governor that could help the state's larger jurisdictions stem the ever-increasing tide of foreclosures in the state by allowing them to establish land banks. H.B. 313 has cleared the House...  Read More  03/17/2010 6:28 PM

(DOWNTOWN) Boston Panel, Residents Get Developer to Cut Height of New Apartment Building:  Developers of a high-rise apartment complex in Boston's Fort Point Channel district are reducing the height of the project in the face of complaints from zoning regulators and local citizens. Developer BHW II Realty LLC, an affiliate of Archon Group...  Read More  03/17/2010 5:33 PM

(STATES) NJ Lawmakers Send Governor Bill Preventing Zoning Changes during Development:  New Jersey Gov. Chris Christie (R) has legislation on his desk that can ease the plight of state builders and developers frustrated by local rule-changing that occurs during development construction. The state Assembly passes A 482, a bill that woul...  Read More  03/17/2010 10:13 AM

(CONGRESS) NSP-3 Bills Await Senate Banking Committee Action:  Senate legislation offering a third Neighborhood Stabilization Program (NSP-3) worth $1 billion in formula grant money continues to rest in the Banking Committee. It is part of a $4 billion effort to battle foreclosures that would be funded through t...  Read More  03/16/2010 4:35 PM

(REHAB) NYC, HUD Agree to Use ARRA Money to Maintain More than 20,000 Housing Units:  New York City housing officials can use nearly $110 million in stimulus money they receive from HUD to rehabilitate and maintain more than 20,000 units in 21 housing developments, more than half of the units being part of public housing. HUD Secy. S...  Read More  03/16/2010 10 AM

(SENATE) Dodd Financial System Reform Bill Offers Independent Consumer Protection Agency:  Senate Banking Committee Chairman Christopher Dodd (D-CT) offers a massive 1,330-page financial reform bill creating a new independent consumer protection watchdog and a new oversight counsel to increase oversight of financial institutions. The new ...  Read More  03/15/2010 3:38 PM

(BUDGET) CBO Finds $4 billion Shortfall in HUD Budget; FHA Head Dismisses Claim:  HUD may be scrambling to find nearly $4 billion in its 2011 budget plan after the Congressional Budget Office (CBO) identified a possible shortfall in a Federal Housing Administration (FHA) mortgage insurance fund. FHA Commissioner David Stevens is d...  Read More  03/12/2010 4:41 PM

(SUSTAINABILITY) Dodd Continues Pushing for Sustainability Initiative:  Declaring his intent to get the Obama administration's sustainability initiative approved in Congress before he retires at the end of the year, Senate Banking Chairman Christopher Dodd (D-CT) joins a HUD road show in his home state to illustrate his ...  Read More  03/12/2010 4:36 PM

(HOUSE) Letters Plead For Housing Money:  Several "Dear Colleague" letters are circulating in the House in an effort to rouse support for more money for housing programs in light of an anticipated financial crunch once the respective congressional budget committees issue their spending level...  Read More  03/12/2010 4:17 PM