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9A <br /> Page 12 <br /> inc3udes$3.9 bil(ion for iocal govemments for forectosure and abandoned home assistance. H.R. <br /> 3221 alsa includes provisions to create further underwriting opportunities for morkgages that are <br /> in danger of being foreclosed upon, establisfiment of a natianal Housing Trust�und, and several <br /> other service oriented provisions that fund housing programs for specific need populations. <br /> Several of the key topics covered by the legislation include: <br /> Neighborhoad Stabilization: Money for Local Governments <br /> . H.R.3221 wi[f appropriate a one-tirrte $3.9 billion in emergency Community Development <br /> Block Grant(CDBG)funds to assist states and loca(government in the rede�elopment of <br /> abandoned and foreclosed homes and residentia!properties. <br /> • Funding will be calculated and distributed to states and local govemments wi#h fhe <br /> greatest need,which will be based on: <br /> o Number and percentage ofi home foreclosures in each state or local government; <br /> o IVumber and percen#age of homes financed by a sub-prime mortgage related <br /> ioan; and <br /> o Number and percentage of homes in default or delinquency. <br /> • TF�is formula appears to be favorable to Caf'rfornia since it has the highest amount of <br /> foreclosures of any state. Using foreclosures as a barometer alone, California may <br /> receive as rnuch as$80� million of the funds, or more than 20 percent of the totat. <br /> "Hope for Homeowners" Program: More Mortgage Assistance <br /> The "Nope for Homeowners"program authorizss the Federal Housing Administration (FHA)to <br /> refinance up$300 bill�on in mortgages o#at-risk borrowers living in their homes who can afford to <br /> make a reduced loan payment. <br /> Housing Trust�und <br /> • Over the iong term,the creation �f a new Housing Trust Fund may be one of the most <br /> significant provisions of H.R. 3221; <br /> . Full funding will not occ�r until 2019. However,HCD wiN begin a process in the upcorning <br /> year to develop a sta#e plan for using and distributing this funding source in which cities <br /> wiil want to have a voice; and <br /> • Additionally, local agencies can start planning for the uss of these funds. Those local <br /> agencies tha#are currentfy updating their housing elements can inciude investigating how <br /> these funds can be used within their communities as a program to be completed. <br /> Other Programs <br /> . H.R. 3221 provides$150 mitiion nation wide far housing counseling services; <br /> . Homeless assistance programs will be increased by an additional $30 mi(lion; and <br /> • H.R. 3221 contains several provisions which make changes to the low income housing <br /> tax credit program,which allows Califiornia to increase its bond cap timit and receive$1.2 <br /> biNion of these funds. <br /> `Media Training'Cantinued from Page 1... <br /> The 45-minute training wili feature a short interview focused on a vital issue to your city, a video <br /> playback/critique, and a foilow-up interview. You will receive a DVD copy of your session. <br /> The trainers are public information and media experts from cities throughout California.After this <br /> brief session,you'll feel more comfortable delivering your city's irnportant messages on-camera <br /> and improve your newspaper and radio interview skilis. <br /> There is a high demand for these one-on-one sessions, and we're limited to three sessions on <br /> Wednesday, and six sessions per day on Thursday and Friday. (Open time spots are listed <br /> below). The training wiU be held in the League Press Room at the Long Beach Convention <br /> CenCer. <br /> 7o take advantage of this outstanding opportunity, which typically costs thousands of dolkars, call <br /> Adrienne Sprenger at{916)658-8278 to reserve a training session ar fax the attached form to <br /> 3 <br />