2009-04-21_Agenda - Laserfiche WebLink

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5timulus Package On February 17, 2009, President Obama signed N.R. 1, the "American Recovery and Rein�estment Act of 2009". ihe bill incEudes $7$7 billian in spending and tax cuts. Bel.ow is a list of investment and tax provisions that are of particufax interest to the commercial real estate industry. IREM and CCIM Institute legisla#i�e staff will continue ta monitor the implementation of the pro�isions of the stimulus package and wifl keep you informed of the latest regulatory cievelopmen�s. I. Apprapriations Provisions COMMERCE e $4.7 billion for the Broadband Technology Opportunities Program to acceleratie brpadband deployrnent in underserved areas. • $650 million for additional implementatiion and administration of the Digital TV converter box coupon program. ENERGY o $6.3 billion for energy efficiency grant programs, including $3.2 billion for the Energy and Conservation Slock Grants administered by the Department of Energy and �3.1 billion for the State Energy Pragram. o $5 billion far the Weatherization Assistance Prpgram. e $300 million for the Energy Efficient Appliance R.ebate program and the Energy Star prograrn. • $4.5 b�llion for Electricity Deli�ery and EnErgy Reliability to modernize and impro�e the electricity grid. EAEVIRONMENT • $200 million fqr the cleanup of leaking underground storage tanks. • $4 i�illion for the Clean Water 5tate Revolving Funds. • $2 biliion far the Drinking Water 5tate Re�ol�ing Funds. • $100 million for Brownfields cleanup. FEDERAL BUII.RING5 • $4.5 biilion to convert GSA facilities to High-Perforrnance Green buildings. HOUSING $4 billion for the PubliC Housing Capital Fund which will assist pul�{ic hausing au�horities in rehabilita�ing and retrafi.tting public housing units, including increasing the energy efficiency of units and making critical safety repairs. $3 6i11ion for Comrriunity Developmen# Fund, including $1 billian for the Corr�munity D�velopment Block Grant program and �2 billion for the Neighborhood Stabilizatiorr Program. The Neighbarhood 5#abilization Program funding will assist states, local governrnents and nonprafits in the purchase and ref�abilitation of foreclosed, �acant properties in order to create mare affordable housing and reduce neighborhood blight. $2.25 billion far the Home In�estment Partnerships Programs which pro�ides funds to s�ate housing credii agencies for capital in�estments in low-income housing tax credit project.