this seems to be the section that's being portrayed as
"
would provide up to a whopping $5.2 billion for ACORN, the left-leaning nonprofit group under federal investigation for massive voter fraud.
Most of the money is secreted away under an item in the now $836 billion package titled “Neighborhood Stabilization Programs.”
Ordinarily, neighborhood stabilization funds are distributed to local governments. But revised language in the stimulus bill would make the funds available directly to non-profit entities such as ACORN,
and...
A rising chorus of GOP leaders are protesting that the blockbuster Democratic stimulus package would provide up to a whopping $5.2 billion for ACORN, the left-leaning nonprofit group under federal investigation for massive voter fraud.
Most of the money is secreted away under an item in the now $836 billion package titled “Neighborhood Stabilization Programs.”
(i left the pagination numbering as well as the actual line numbering so there needn't be any concern i'm cherrypicking):
COMMUNITY PLANNING AND DEVELOPMENT
5 COMMUNITY DEVELOPMENT FUND
6 For an additional amount for ‘‘Community Develop
7 ment Fund’’ $1,000,000,000, to carry out the community
8 development block grant program under title I of the
9 Housing and Community Development Act of 1974 (42
10 U.S.C. 5301 et seq.): Provided, That the amount appro
11 priated in this paragraph shall be distributed according
12 to the same funding formula used in fiscal year 2008: Pro
13 vided further, That in allocating the funds appropriated
14 in this paragraph, the Secretary of Housing and Urban
15 Development shall not require an additional action plan
16 from grantees: Provided further, That in selecting projects
17 to be funded, recipients shall give priority to projects that
18 can award contracts based on bids within 120 days from
19 the date the funds are made available to the recipients;
20 Provided further, That in administering funds provided in
21 this paragraph, the Secretary may waive any provision of
22 any statute or regulation that the Secretary administers
23 in connection with the obligation by the Secretary or the
24 use by the recipient of these funds (except for require
25 ments related to fair housing, nondiscrimination, labor
P 222
1 standards, and the environment), upon a finding that such
2 waiver is required to facilitate the timely use of such funds
3 and would not be inconsistent with the overall purpose of
4 the statute.
5 For a further additional amount for ‘‘Community De
6 velopment Fund’’, $4,190,000,000, to be used for neigh
7 borhood stabilization activities related to emergency as
8 sistance for the redevelopment of abandoned and fore
9 closed homes as authorized under division B, title III of
10 the Housing and Economic Recovery Act of 2008 (Public
11 Law 110–289), of which—
12 (1) not less than $3,440,000,000 shall be allo
13 cated by a competition for which eligible entities
14 shall be States, units of general local government,
15 and nonprofit entities or consortia of nonprofit enti
16 ties: Provided, That the award criteria for such com
17 petition shall include grantee capacity, leveraging
18 potential, targeted impact of foreclosure prevention,
19 and any additional factors determined by the Sec
20 retary of Housing and Urban Development: Provided
21 further, that the Secretary may establish a minimum
22 grant size: Provided further, That amounts made
23 available under this Section may be used to (A) es
24 tablish financing mechanisms for purchase and rede
25 velopment of foreclosed-upon homes and residential
223
1 properties, including such mechanisms as soft-sec
2 onds, loan loss reserves, and shared-equity loans for
3 low- and moderate-income homebuyers; ( B ) purchase
4 and rehabilitate homes and residential properties
5 that have been abandoned or foreclosed upon, in
6 order to sell or rent such homes and properties; (C)
7 establish and operate land banks for homes that
8 have been foreclosed upon; (D) demolish foreclosed
9 properties that have become blighted structures; and
10 (E) redevelop demolished or vacant foreclosed prop
11 erties in order to sell or rent such properties; and
12 (2) up to $750,000,000 shall be awarded by
13 competition to nonprofit entities or consortia of non
14 profit entities to provide community stabilization as
15 sistance by (A) accelerating state and local govern
16 ment and nonprofit productivity; ( B ) increasing the
17 scale and efficiency of property transfers of fore
18 closed and vacant residential properties from finan
19 cial institutions and government entities to qualified
20 local housing providers in order to return the prop
21 erties to productive affordable housing use; (C)
22 building industry and property management capac
23 ity; and (D) partnering with private sector real es
24 tate developers and contractors and leveraging pri
25 vate sector capital: Provided further, That such com-
224
1 munity stabilization assistance shall be provided pri
2 marily in States and areas with high rates of de
3 faults and foreclosures to support the acquisition, re
4 habilitation and property management of single-fam
5 ily and multi-family homes and to work in partner
6 ship with the private sector real estate industry and
7 to leverage available private and public funds for
8 those purposes: Provided further, That for purposes
9 of this paragraph qualified local housing providers
10 shall be nonprofit organizations with demonstrated
11 capabilities in real estate development or acquisition
12 and rehabilitation or property management of single
13 or multi-family homes, or local or state governments
14 or instrumentalities of such governments: Provided
15 further, That qualified local housing providers shall
16 be expected to utilize and leverage additional local
17 nonprofit, governmental, for-profit and private re
18 sources:
call me blind or naive, but i don't see any mention of acorn by name nor any indication they'd qualify any easier than, say, some of gwb's faith-based non-profits.