Mark Holmes, mayor and councilman for Lawrence Township
It is an honor and a privilege to endorse Senator Barack Obama for President of the United States of America. Barack Obama’s position on the housing and community development issues will provide new opportunities for individuals and families to secure affordable housing in this country as well as create new partnerships to improve the quality of life in our communities.
As mayor of Lawrence Township, I know the value of change and diversity. I am the first African American to hold this position in the township’s history. As second vice chair of the New Jersey Council on Affordable Housing Board and the former executive director of the East Orange Housing Authority, I understand the need for decent, safe, sanitary, affordable housing for working families in New Jersey and the country. In my capacity as a member of the National Association of Redevelopment Officials Revitalization and Community Development Committee and former director of community development and planning for the Township of Irvington, there is a tremendous need to improve community resources and development in our urban communities and increase the funding allocations of CDBG and HOME grants.
It is my belief that as president of the United States, Senator Obama will address housing and community development issues through the following initiatives:
* The creation of a National Affordable Housing Trust Fund to assist low-moderate income families who are priced out of the housing market and foster the concept of developing affordable housing in mix income neighborhoods. The fund would utilize a small percentage of the profits of the two government sponsored housing agencies, Fannie Mae and Freddie Mac, to create up 14,000 new affordable housing units every year.* Combat Mortgage Fraud and Sub Prime Loans threatening to bring foreclosure to over two million households, including many families with small children. Barack has been closely monitoring this situation for years, and introduced comprehensive legislation over a year ago to flight mortgage fraud and protect consumers against abusive lending practices.* Create a Universal Mortgage Credit to assist homeowners with a deduction on their tax returns. The current mortgage interest reduction incentive excludes nearly two-thirds of Americans, because they do not itemize their deductions on their tax returns. This 10 percent credit will benefit an additional 10 million homeowners, the majority of whom earn less than $50,000 per year. It will provide the average recipient with approximately $500 per year in tax savings.* Fully fund the Community Development Block Grant Program to help strengthen cities and towns throughout the nation by providing housing and creating jobs primarily for low-moderate-income people. Barack Obama has fought against the Bush Administration substantial cuts to the CDBG Program and as President he will restore funding to this important financial resource.
