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State News Release |
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| Statehood Greens Blast Mayor Williams' Proposed FY2005 Housing Fund Cut and Bond Scheme. |
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THE D.C. STATEHOOD GREEN PARTY Monday, March 29, 2004 Contact: STATEHOOD GREENS BLAST MAYOR WILLIAMS' PROPOSED FY2005 HOUSING FUND CUT AND BOND SCHEME WASHINGTON, D.C. -- The D.C. Statehood Green Party sharply criticized Mayor Anthony Williams for his plan to reduce the housing fund drastically and permanently, and is calling on D.C. Council to reject the plan. Mayor Williams is proposing to cut the Housing Production Trust Fund from $40.5 million (authorized by the Housing Act) to $20 million for FY2005, and to cap it permanently at $20 million a year. "Low-income people in D.C. desperately need the $40 million in the next year to ensure the availability of housing," said Michele Tingling-Clemmons, who plans to announce her candidacy for Ward 7 member of D.C. Council. "A permanent cut in the fund will force some low-income families into the street permanently." Statehood Greens claim that the Mayor's plan to 'securitize' the $20 million over the next 20 years by issuing bonds for $250 million will ultimately cost the District about $150 million in interest payments. "It's a scheme to sacrifice housing security for the benefit of investors," said Tingling-Clemmons, who also serves as national co-chair of the Green Party's Black Caucus and sits on the board of the National Welfare Rights Union. "The District will risk using up the $250 million before the debt service is paid off. It makes more financial sense -- and guarantees more affordable housing -- just to put $40 million into the fund each year. The Mayor's bonds are entirely unnecessary." Some Statehood Greens plan to attend the public briefing of D.C. Council on Monday, March 29, 2:00 to 6:00 p.m. and participate in the community protest against Mayor Williams' plan. "The Mayor has forced on the people of D.C. a series of reckless schemes designed to convert public services, resources, and funding into private profit," said T.E. Smith, a member of the Statehood Green Party. "The housing fund proposal is tragically consistent with the Mayor's privatization and dismantling of D.C. General Hospital, failed Grand Prix racetrack, planned stadium, tax loopholes and cuts for corporations (including TIFs and Tax Parity), school vouchers, and other projects that have displaced and burdened D.C. taxpayers and residents -- especially modest-income working people and the poor. This is why the D.C. Statehood Green Party has joined the 'Save Our City' campaign to recall Mayor Williams." MORE INFORMATION The D.C. Statehood Green Party http://www.dcstatehoodgreen.org Washington Regional Network for Livable Communities |
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