Washington, DC - Today, U.S. Rep. Edolphus “Ed” Towns is proud to announce that President Bush signed into law the landmark housing legislation, which included protections to keep Starrett City affordable for its tenants.  Rep. Towns’ bill is exclusively designed to preserve Starrett City and is part of a broader, comprehensive housing package.  The Starrett City provision is unique because it is federal legislation that specifically benefits and targets one community.

“I am happy that the President signed this important legislation that will rescue millions of Americans from a debilitating housing market,” said Congressman Towns. “I know the importance of keeping Starrett City affordable for tenants.  That is why, back in May, I introduced legislation to protect and help stabilize Starrett City’s future.”

As a result of his tremendous record of service in Congress, Rep. Towns was able to pull together a coalition, securing wide-ranging member support and injecting tremendous influence on this important housing legislation.  Towns was criticized and questioned about why Members of Congress should support and advance legislation to support one specific development when there are so many struggling housing developments across the country.  Towns answered, “This bill – although district specific – embodies the essence of what we need to do, which is protect families from an economic downturn that was generated and escalated at no fault of their own. I believe that this strategy, the one that protects Starrett City, could be a model for other developments across the country.  That is why I worked so hard with my colleagues to assure that this was accomplished.”

In this new housing bill, which today became law, HUD contracts will be converted to allow purchasers of Starrett City to secure the long-term financing necessary to purchase the property.  By making the property affordable to the new owners, they can in turn keep the housing affordable for tenants.

 Rep. Towns concluded, “This is a remarkable example of how Congress has come together, despite their political differences, to protect hardworking Americans.”

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