October 6, 2009 – (RealEstateRama) — Congressman Anh “Joseph” Cao (LA-2) released a statement regarding the housing crisis in New Orleans.
During his first 10 months in office, Congressman Cao has been consistently vocal on this issue.
In April, he sent a letter to U.S. Treasury Secretary, Timothy Geithner, expressing support for the re-allocation of disaster tax credits for direct funding to states awarded disaster tax credits under the GO Zone Act of 2005 and the Emergency Economic Stabilization Act of 2008.
He has also held roundtables on the state of housing and assisted local and state governments in applying for Community Disaster Loan Forgiveness.
Cao said: “On behalf of the people of New Orleans, I want to thank Secretary Shaun Donovan for his hard work, effort, and contributions at the U.S. Department of Housing and Urban Development. However, there is still much work to do. An estimated 40% of all housing in the district is abandoned, blighted or destroyed. Rental rates are at an all time high and there is a shortage of affordable housing. New Orleanian constituents are calling for changes in the structure and culture at the Housing Authority of New Orleans to better serve those in need.”
Congressman Cao co-sponsored the Turner Foreclosure Act, the Go-Zone Low-Income Housing Tax Credit Bill, and the Disaster State Housing Recovery Act of 2009.