On the first business day following the inauguration, Sens. Arlen Specter and Richard Durbin introduced their New Urban Agenda Act.
On the first business day following the inauguration, Sens. ArlenSpecter(R-PA) and Richard Durbin (R-IL) introduced their New Urban Agenda Act(S.23). The legislation seeks to build on economic development andaffordablehousing measures passed in the waning days of the 106th Congress. Maincomponents of the proposal include: mandated percentage of federalpurchases from business in designated areas; preferences for thelocation,construction and improvement of certain federal facilities in urbanareas; avariety of tax incentives to stimulate urban economic development;homeownership assistance for municipal employees; and brownfieldsliabilityrelief. The bill also calls for HUD to study the feasibility ofconsolidating existing low-income housing programs into a comprehensiveblock grant program.
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