Monday, May 05, 2008

La Raza in the Hou$ing Bill?   [David Freddoso]

First take power, then hand out other people's cash to your friends. That's how it works.

You might be interested to see who's getting a $5 million earmark this year and $10 million in each of the next two years in Financial Services Chairman Barney Frank's (D-Mass.) housing bill:

(c) ASSISTANCE FOR RAZA DEVELOPMENT FUND.—

(1) USE.—The Secretary of Housing and
Urban Development may make a grant to the Raza
Development Fund for the purpose of providing
technical and financial assistance to local non-profit
organizations to undertake community development
and affordable housing projects and programs serving low-
and moderate-income households,  particularly through
organizations located in neighborhoods with substantial populations
of income-disadvantaged households of Hispanic origin. Assistance
provided by the Secretary under this subsection may be used by the
Raza Development Fund to—

(A) provide technical and financial assistance
for site acquisition and development, construction financing,
and short- and long-term financing for housing, including housing for
disabled veterans, community facilities, and economic development;
(B) leverage capital from private entities,
including private financial institutions, insurance companies,
and private philanthropic organizations;
C) provide technical assistance, training,
support, and advice to develop the management,
financial, and administrative capabilities of
housing development organizations serving low
income households, including Hispanic households; and
(D) conduct such other activities as may
be determined by the Secretary and the Raza
Development Fund.

(2) AUTHORIZATION OF APPROPRIATIONS.—
There is authorized to be appropriated for grants
under this subsection—

(A) $5,000,000 for fiscal year 2008; and
(B) $10,000,000 for each of fiscal years
2009 and 2010.

05/05 04:52 PMShare