House Financial Services subcommittee held hearing in Minneapolis today; web page for hearing is HERE.
HUD Official Erika Poethig, Deputy Assistant Secretary for Policy Research and Development testified at the hearing on the impact of the foreclosure crisis, ostensibly on the impact on rental markets; her testimony is HERE.
One Neighborhood Strategy Program Tidbit
If I am adding correctly the data on page 6 and 7 of the Poethig testimony, it appears that communities in Minnesota got $94.5 million in NSP 1 and 2 funding from HUD. (A significant share of their NSP 2 funding is for a land banking approach to acquiring foreclosed properties).
Minnesota's 2008 5.22 million population is 38% higher than Oregon's 3.79 million and Oregon received a total of $26.4 million in NSP funding. So, with a population 37% higher than Oregon, communities in Minnesota received 258% MORE NSP funding than Oregon.
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