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Stimulus package, part VI

January 24, 2009

picking up on page 219.

$800,000,000 for Capital and Debt Service Grants for the National Railroad Passenger Corporation.  Because funding businesses that can’t turn a profit is what government is all about.

Federal Transit Administratino – Transit Capital Assistance: $6,000,000,000.  “Up to” $60 mil is set aside for administration/oversight.

$2,000,000,000 for “Fixed Guideway Infrastructure Investment”. Buses and rail. Up to $20 mil for administration/oversight.

$1,000,000,000 for Capital Investment grants.  Up to $10,000,000 for oversight.

That brings us to page 224:

Department of Housing and Urban Development

$5,000,000,000 for the Public Housing Capital Investment Fund. Up to $1 bil of this can go to competitive grants to public housing authorities.  A fun note. The Secretary can waive statutory or regulatory provisions if necessary to expedite spending this money, EXCEPT for rules concerning fair housing, discrimination, labor standards, and the environment.

Assisted Housing Energy Retrofit: $2,500,000,000.  1 percent ($25,000,000) for staffing, training, administration, evaluation.

Native American Housing: $500,000,000.  Community Development Fund: $1,000,000,000.  An additional $4,190,000,000 for “neighborhood stabilization” related to assistance for abandoned and foreclosed homes. Hey – they’re re-funding TARP! There are several pages of rules, ask your local Congressman if you qualify. Tell him you’re a bank CEO, it’ll help.

Home Investment Partnerships Program:  $1,500,000,000.

Self-Help and Assisted Ownership Opportunity Program $10,000,000. 

Homeless Assistance Grants: $1,500,000,000.

Lead Hazard Reduction: $100,000,000.

Page 241 sets 2009 FHA loan limits, based on last year’s formula.  Page 244, same thing for FHA reverse loans.

Title XIII State Fiscal Stabilization Fund: (keeping in mind that TONS of money above gets spent at the state level).

$79,000,000,000 administered by the Department of Education.  $39,500,000 of this is reserved until July 2010. Up to $12,500,000 a year for administration and oversight. The Secretary may set aside up to $325,000,000 each year for an InnovationFund.

And that’s the bill.

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