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<br />9A <br />Page 3 <br /> <br />. Exdude parolees with technical and misdemeanor violations from prison. Offenders could <br />be diverted to community sanctions. <br /> <br />LAO's analysis of the Governor's proposed budget is available online. <br />htto:/Jwww.lao.ca.aov/2008/bud/nov revise/nav revise overview 111108.odf <br /> <br />The Legislature is holding a hearing today to examine both the Governor's proposal and LAO's <br />analysis. As further developments occur with the Special Session the Governor has called to <br />address the revised budget shortfall, updates and analysis will be provided through Priority <br />Focus, the League's Web site (www.cacities.oro)andtheLeague.slistservs. <br /> <br />'Foreclosure Program' Continued from Page 1... <br /> <br />The NSP program works very similarly to the Community Block Grant Program, where the most <br />affected jurisdictions (according to a federal formula) will receive funding directly from the federal <br />government while HCD distributes funding to the remaining affected communities. The just- <br />reieased HeD pian addresses the funding that will flow through California. <br /> <br />Because of the expedited process required in the law, HeD must submit its plan to the federal <br />Department of Housing and Urban Development (HUD) by Dec. 1, which is why the HCD <br />deadline for comments is Nov. 28. A hearing at the HeD offices in Sacramento is scheduled for <br />Nov. 21. <br /> <br />Cities that are expecting to participate in this program are strongly advised to review these <br />materials and contact HCD with questions. <br /> <br />Background <br /> <br />The American Housing Rescue and Foreclosure Prevention Act of 2008 (H.R. 3221) included <br />among its numerous provisions the Neighborhood Stabilization Program (NSP), which provides <br />$3.9 billion natioo.wide to state and local govemments to purchase abandoned and foreclosed <br />homes and residential property. The intent is to rejuvenate neighborhoods and communities that <br />are hardest hit by the foreclosure crisis. This funding allows localities to renovate and rehabilitate <br />those homes, eliminating blight and reinvigorating and stabilizing the affected neighborhoods. <br /> <br />The funds can be used to: <br /> <br />1. Purchase and rehabilitate homes to sell, rent or redevelop; <br />2. Create land banks for homes that have been foreclosed l!pon; <br />3. Demolish blighted structures; <br />4. Redevelop demolished or vacant properties; and <br />5. Establish financing mechanisms for purchase and redevelopment of foreclosed upon <br />homes and residential properties. <br /> <br />Homes that are purchased with the NSP funds must be sold or rented to low or moderate income <br />families. <br /> <br />'Economic Stimulus' Continued from Page 1... <br /> <br />The recent economic downturn has had a significant impact on cities' budgets and resulted in <br />cuts to many vital services such as public safety, parks and libraries. An economic stimulus <br />package that includes either direct cash assistance. block grants with broad flexibility, and funds <br />to invest in infrastructure and adaptation to climate change would be helpful. Cities are poised to <br />put these funds to use immediately and can produce results that would strengthen cities and the <br />overall economy on multiple levels. <br /> <br />In outlining recommended provisions for the federal economic stimulus package, the League <br />proposed nine federal investment opportunities at the local level. <br /> <br />. Fully Fund Energy Efficiency and Conservation Block Grants (EECBG); <br /> <br />3 <br />