By Melissa Shriver
Tuesday, February 17, 2009 at 10:17 a.m.
Read more: Local, Community, Politics, Missouri, Hannibal, Kit, Bond, Housing, Stimulus
Missouri Senator Kit Bond visited Hannibal Tuesday to highlight the importance of addressing the shortage of affordable housing for low income families and seniors in the state.
He says it's particularly important now, as the economic crisis deepens.
Bond was responsible for one portion of the federal economic stimulus plan which passed this week. He backed $2 billion in funds to jump start low income housing projects halted by the economy.
Senator Bond was in Hannibal Tuesday visiting with residents of Mark Twain Hotel Apartments.
He says the historic hotel turned senior housing is a great example of what investing in affordable housing can bring to the community.
Construction projects like this were virtually halted last fall when the market went south and no investors could be found to buy into the tax credit projects.
To address the shortage of affordable housing for low income families and seniors, Bond placed an amendment in the stimulus package which provides $2 billion to unlock stalled projects across the country.
That figures out to be about $40 million for low income housing in Missouri.
Bond says the $2 billion amendment is small potatoes in the nearly $800 billion package, but it will save jobs, employing more than 3,000 people in Missouri alone.
Why is housing such a problem?
Sen. Bond said, "The need for housing is great everywhere, particularly with affordable housing. The price of housing has gone up so much. We've had flooding destroy 100 houses in Lincoln County and disasters wiped out housing and if you talk to anyone you'll find the waiting lists are long."
Senator Bond says the housing jump start in Missouri should help open up 700 low income housing units this year which were put on hold.
But Senator Bond voted against the version of the stimulus that passed because he says it will put the country in too much debt, while not bringing in the jumpstart the country needs. In fact he says only 11% of the stimulus money will be infused into the nation in 2009. Bond says that's not enough to get things going again.
Why did you vote against the stimulus package?
Sen Bond said, "It stimulates debt, it stimulates growth of federal government, but it doesn't stimulate the economy to create jobs."
He says he had so much bipartisan support for his low income housing amendment, that it would have passed easily into a smaller, more effective stimulus package.
