TARP funds set aside for the administration’s foreclosure relief program grew to a total of $18.3 billion [1] after the Treasury Department adjusted the caps on incentives for participating mortgage servicers. In the case of Countrywide, the total incentive payments it can receive nearly tripled to $5.1 billion.
Treasury adjusted the caps based on updated data and projections from the servicers and will make similar adjustments each quarter, according to a department spokeswoman.
Another servicer, Residential Credit Solutions, signed up, bringing the total to 16 participants in the Making Home Affordable [2] program, which provides incentive payments to servicers for modifying mortgages for struggling homeowners.
Servicers get $1,000 for each modified loan that is current after a three-month trial period, as well as $1,000 annually for up to three years for each borrower that stays current on a modified loan. The government has other outlays too, such as subsidies for reducing borrowers’ monthly payments and incentives for modifying mortgages that are not yet delinquent.
This article was originally published by www.propublica.org . ProPublica continues to cover the Making Homes Affordable program and how bailout funds are allocated. For more information click here.
The Planning Committee of the Delaware River Waterfront Corporation (DRWC) will present the designs of the four finalists being considered for creating a public park at Pier 11, as part of a larger design including a municipal building and the intersection of Race and Columbus Boulevard. The event takes place Wednesday, June 17th, from 6 - 8:30PM at Festival Pier on Penn's Landing.
"This is another step towards our vision of a green, accessible waterfront that all Philadelphians can enjoy," said Mayor Michael Nutter in a statement issued by the DRWC. "We are committed to an open and transparent planning process for the waterfront and Pier 11. The Pier 11 public presentation by four world-class design finalists is an opportunity for the public to re-imagine the Central Delaware waterfront, a vision that will be underway by this time next year."
Last year, Mayor Nutter dissolved the Penn's Landing Corporation and created the Delaware River Waterfront Corporation (DRWC) to oversee the implementation of the Civic Vision for the Central Delaware. The DRWC is a nonprofit agency that "intends to transform the central Delaware River waterfront into a vibrant destination location for recreational, cultural, and commercial activities for the residents and visitors of Philadelphia", according to their statement.
A popular neighborhood park in Northern Liberties is not only being outfitted with new plantings and an amphitheater, but with an innovative storm water management system that will keep water out of the city's overburdened system and feed back to watering plants at the park.
The improvements at Liberty Lands, located at Third and Wildey streets, are expected to be completed by June 6. The project, made possible by the Pennsylvania Horticultural Society (PHS), Philadelphia Water Department, and Northern Liberties Neighbors Association, was funded by more than $300,000 from the Pennsylvania departments of Environmental Protection and of Conservation and Natural Resources along with $25,000 from Tower Investments and $3,500 from nearby restaurant the Standard Tap.
"This neighborhood treasure now has a high-tech system that will reduce storm water flow into the city's system," said Joan Reilly, Senior Director of PHS' Philadelphia Green program. "Sustainable storm water management- rain gardens, rain barrels, and other non-traditional methods of controlling storm water- is an important next step in making Philadelphia one of the greenest cities in the country."
The materials are printed. The action is planned. On Saturday, June 6, Casino-Free Philadelphia will conduct a series of peaceful actions at Harrah's Chester to call attention to the predatory practices of the casino industry. Anti-casino allies from Pittsburgh, Massachusetts and Chicago will be on their way shortly. And last night, we had more than 30 anti-casino activists from around Philadelphia trained for "Beat the House", happening this Saturday at Harrah's casino in Chester.
In order to participate in the action inside the casino, you will need to be able to attend the training Saturday morning in downtown Philadelphia (transportation will be available to the casino after the training). The training is at 718 Market St. from 11AM- 1PM.
If your friends and family can't make the training on Saturday morning, or won't join you inside the casino, they can still participate by joining in the action outside.
Casino-Free Philadelphia sent a letter to Chester residents telling them about this planned action. In it, the organization called attention to the fact that "Casino-Free Philadelphia is a grassroots organization funded by member donations. Our actions during Beat the House will be conducted in an orderly fashion and will pose no harm to casino personnel, patrons or property."
This is a request to all of NABR's supporters to help us advocate for good waterfront development.
Neighbors Allied for the Best Riverfront (NABR) has been working through the Central Delaware Advocacy Group (CDAG) to add essential amendments to Councilman DiCicco's interim zoning overlay legislation for the Central Delaware. This is the legislation that will regulate development and public access along the river until the Master Plan is in place. We are particularly advocating for:
* A 100' setback from the edge of the river.
* Many points of public access to the river and a riverfront trail that's open 24/7.
* The draft legislation contains a list of prohibited uses. We want gaming facilities, payday lenders and gun shops added to the list.
* Requiring archeological and historical surveys to be completed for all parcels to protect the history of the waterfront.
We encourage concerned NABR members to let Councilman DiCicco as well as Deputy Mayor Altman and Planning Commission director Alan Greenberger hear from you. Please click here today to tell them you support these amendments to the overlay.
Finally, City Council will consider amendments to this legislation on June 3rd in a public Rules Committee hearing (Wednesday, June 3rd, at 10AM in Room 400, City Hall). Please make every effort to come out and show your support for these amendments!
Thank you,
Neighbors Allied for the Best Riverfront (full disclosure: Caryn Hunt is the NABR delegate to CDAG)
Features 
