Kathy Castor: “My amendments are very simple. They say that 90 days after enactment of this bill, we will commence a Government…”

“My amendments are very simple. They say that 90 days after enactment of this bill, we will commence a Government Accountability study to determine the impact of Neighborhood Stabilization rounds 1, 2, and 3 on communities all across the country. Now, I have to tell you, Madam Chair, I do not need a study to tell me that in my community Neighborhood Stabilization has provided terrific benefits. Neighborhood Stabilization in the Tampa Bay area in Florida, a community that was very hard hit by predatory lending, subprime mortgage, and the foreclosure crisis, Neighborhood Stabilization has given us the tools to create vital housing in the midst of this horrendous crisis and it has created jobs. Things have been tough in my neck of the woods, and Neighborhood Stabilization has given communities in our neighborhoods and our nonprofit agencies a little bit of hope. Property values in the Tampa Bay area have plummeted by over 40 percent since 2007. Neighborhood Stabilization has helped us to stop the bleeding. Neighborhood Stabilization has helped us protect our property values. And Neighborhood Stabilization has turned some of the worst abandoned and foreclosed homes that were causing blight all across our community into rehabilitated properties. And here are just a few examples of what Neighborhood Stabilization has done in Tampa and in Hillsborough County.…”