WASHINGTON – The House Financial Services Housing Subcommittee chaired by Rep. Bob Ney (R-Ohio) met May 7 and approved up three measures designed to make it easier for low-income consumers to purchase homes. H.R. 1276 was introduced by Reps. Katherine Harris (R-Fla.) and Artur Davis (D-Ala.). The America Dream Downpayment Act, would provide $200 million in grant funds for low-income, first-time homebuyers. H.R. 1614, the Hope VI Program Reauthorization and Small Community Mainstreet Rejuvenation and Housing Act, was introduced by Rep. Jim Leach (R-Iowa). It provides public housing authorities with incentives to form partnerships and create mixed-income affordable housing. The program funds the demolition and revitalization of run-down public housing units. H.R. 23, the Tornado Shelters Act, allows cities and counties to use Community Development Block Grant funds to build tornado-safe shelters in manufactured housing communities. The bill was introduced by Rep. Spencer Bachus (R-Ala.).

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