WASHINGTON, DC – Congressman Brian Higgins (NY-27) applauded the passage of the Neighborhood Stabilization Act of 2008, key housing stimulus legislation to address the vacant housing problem in places like Buffalo, Cheektowaga, Lackawanna, Jamestown and Dunkirk and other surrounding towns.  Higgins spoke on the House floor in support of the bill, which echoes provisions Higgins’ pushed for in legislation he drafted, H.R. 3498, the Neighborhood Reclamation and Revitalization Act.

“The passage of this legislation is a victory for cities across the country facing vacant and abandoned housing crises. I am encouraged that the work my colleagues and I have done succeeded in bringing the issue of vacant housing to the forefront of debate in Washington; it is an issue Western New York badly needs to have addressed at the federal level,” said Higgins, Co-Chair of the Congressional Older Cities Task Force, who has also been working closely on this issue locally with County Legislator Robert Reynolds’ Distressed Properties Committee. 

The City of Buffalo, Cheektowaga and many surrounding towns in Western New York are experiencing a vacant housing crisis.  It is estimated that the City of Buffalo has approximately 20,000 vacant residential properties alone, while Chautauqua County has an estimated 10,000 vacant properties.

The legislation provides $15 billion in loans and grants for state and local governments to acquire vacant, foreclosed homes.  Under the bill, local leaders could apply for zero interest loans with HUD to purchase and rehabilitate vacant, foreclosed homes for the purpose of making them ready for occupancy once again.  Grant funds would be used for incidental costs incurred after purchase.  Local leaders can also use grant funds to demolish vacant foreclosed homes only if the Secretary for Housing and Urban Development determines that the neighborhood where the housing is located has a high incidence of vacant and abandoned housing or other structures and is experiencing a significant decline in population.