E 1058 CONGRESSIONAL RECORD — Extensions of Remarks May 17, 1995

olds, including Abdul Khaliqi, Antonio Nieto,

Marie Sobieski, Mary Souza, and Ethel

Stenson.

Nicolasa Alcon, Elizabeth Denny, Etta

Osborn, Epifania Saldana, Eva Thornton,

Catherine Walker, and Lily Wilkinson are 104

this year. The 103 year-olds who will be there

on Thursday are: Giorgina Angeli, Michael

Branden, Lillian Garfais, Mamie McGriff, and

Antonio Nava. The presence of the 102 yearolds will be filled by Anna Galvin, Jim Hendricks, Hinda Jackson, Helen Leandro, Eugenia Liorentzevitch, Erminia Oberti, Fred

Vonbrethorst, Frances Wayne, and Grace

Zoellner.

Marion Boone, Olga Cherepanoff, Josephine

Corona, Hazel Garad, Olive Gurney, Marianne

Hill, Dale Kune, Kristina Langas, Helen

Minore, Marian Morken, Eva Ortiz, Irene Pearson, Liilie Seay, Mary Silva, Ernestine

Smedman, Leo Valentine, and Marguerite

Zugnoni, at 101, are the sophomores of this

class. The freshmen, young at only 100, are:

Jane Barkley, Augusta Burlingame, Alice

‘‘Pete’’ Clark, Althea Cummings, Leone

Gardelius, Ollie Holmes, Clara Moreland,

Sumako Oka, Mamie Person, Edith Irene

Wasley, and Elizabeth Wershkull.

Mr. Speaker, I hope my colleagues will join

me in honoring these centenarians, especially

during Older Americans Months, 1995. Their

long and full lives have been a source of inspiration to their friends, family, and us all. I wish

them all good health and good cheer.

THE INTRODUCTION OF THE HISTORIC HOMEOWNERSHIP ASSISTfANCE ACT

HON. E. CLAY SHAW, JR. OF FLORIDA

IN THE HOUSE OF REPRESENTATIVES

Wednesday, May 17, 1995

Mr. SHAW. Mr. Speaker, all across America, in the small towns and great cities of this

country, our heritage as a nation—the physical

evidence of our past—is at risk. In virtually

every corner of this land, homes in which

grandparents and parents grew up, communities and neighborhoods that nurtured vibrant

families, schools that were good places to

learn and churches and synagogues that were

filled on days of prayer, have suffered the ravages of abandonment and decay.

In the decade from 1980 to 1990, Chicago

lost 41,000 housing units through abandonment, Philadelphia 10,000, and St. Louis

7,000. The story in our older small communities has been the same, and the trend continues. It is important to understand that it is

not just the buildings that we are losing. It is

the sense of our past, the vitality of our communities and the shared values of those precious places.

We need not stand hopelessly by as passive witnesses to the loss of these irreplaceable historic resources. We can act, and to

that end I am introducing today, with my colleagues Mrs. KENNELLY, Mr. MCCRERY, Mr.

NEAL, Mr. ZIMMER, Mrs. JOHNSON of Connecticut, Mr. GEPHARDT, Mr. GOSS, Mr. MOAKLEY,

Mr. HUTCHINSON, Mr. TORKILDSEN, Mrs.

MALONEY, Mr. RICHARDSON, Mr. HINCHEY, Mr.

CLYBURN, and Mr. NADLER, the Historic Homeownership Assistance Act.

This legislation is patterned after the existing Historic Rehabilitation Investment tax credit. That legislation has been enormously successful in stimulating private investment in the

rehabilitation of buildings of historic importance all across the country. Through its use

we have been able to save and re-use a rich

and diverse array of historic buildings: landmarks such as Union Station in Washington,

DC, the Fox Paper Mills, a mixed-used project

that was once a derelict in Appleton, WI, and

the Rosa True School, an eight-unit low/moderate income rental project in an historic

school building in Portland, ME. In my own

State of Florida, since 1974, the existing Historic Rehabilitation Investment tax credit has

resulted in 325 rehabilitation projects,

leveraging $238 million in private investment.

These projects range from the restoration of

art deco hotels in historic Miami Beach, bringing economic rebirth to this once decaying

area, to the development of multifamily housing in the Springfield Historic District in Jacksonville.

The legislation that I am introducing today

builds on the familiar structure of the existing

tax credit, but with a different focus and more

modes scope and cost. It is designed to empower the one major constituency that has

been barred from using the existing credit—

homeowners. Only those persons who rehabilitate or purchase a newly rehabilitated home

and occupy it as their principal residence

would be entitled to the credit that this legislation would create. There would be no passive

losses, no tax shelters, and no syndications

under this bill.

Like the existing investment credit, the bill

would provide a credit to homeowners equal

to 20 percent of the qualified rehabilitation expenditures made on an eligible building that is

used as a principal residence by the owner.

Eligible buildings would be those that are listed on the National Register of Historic Places,

are contributing buildings in National Register

Historic Districts or in nationally certified State

or local historic districts, or are individually listed on a nationally certified State or local register. As is the case with the existing credit,

the rehabilitation work would have to be performed in compliance with the Secretary of the

Interior’s standards for rehabilitation, although

the bill would clarify the directive that the

standards be interpreted in a manner that

takes into consideration economic and technical feasibility.

The bill also makes provision for lower-income homebuyers who may not have sufficient Federal income tax liability to use a tax

credit. It would permit such persons to receive

a historic rehabilitation mortgage credit certificate which they can use with their bank to obtain a lower interest rate on their mortgage.

The credit would be available for condominiums and co-ops, as well as single-family

buildings. If a building were to be rehabilitated

by a developer for sale to a homeowner, the

credit would pass through to the homeowner.

Since one purpose of the bill is to provide incentives for middle-income and more affluent

families to return to older towns and cities, the

bill does not discriminate among taxpayers on

the basis of income. However, it does impose

a cap of $50,000 on the amount of credit

which may be taken for a principal residence.

The Historic Homeownership Tax Assistance Act will make ownership of a rehabilitated older home more affordable for homeowners of modest incomes. It will encourage

more affluent families to claim a stake in older

towns and neighborhoods. It affords fiscally

stressed cities and towns a way to put abandoned buildings back on the tax roles, while

strengthening their income and sales tax

bases. It offers developers, realtors, and

homebuilders a new realm of economic opportunity in revitalizing decaying buildings.

Mr. Speaker, this bill is no panacea. Although its goals are great, its reach will be

modest. But it can make a difference, and an

important difference, in communities large and

small all across this Nation. The American

dream of owning one’s home is a powerful

force. This bill can help it come true for those

who are prepared to make a personal commitment to join in the rescue of our priceless heritage. By their actions they can help to revitalize decaying resources of historic importance,

create jobs and stimulate economic development, and restore to our older towns and cities

a lost sense of purpose and community.

I ask unanimous consent that the text of the

bill and an explanation of its provisions be

printed in the RECORD

f.

HONORING THE SOCORRO HIGH

SCHOOL NJROTC UNIT

HON. RONALD D. COLEMAN OF TEXAS

IN THE HOUSE OF REPRESENTATIVES

Wednesday, May 17, 1995

Mr. COLEMAN. Mr. Speaker, I rise today to

give special recognition to a group of students

from my congressional district, the members

of Socorro High School’s Naval Junior ROTC

unit.

This unit has developed into one of the best

NJROTC units in the country. It has placed

first in area 11 in 3 of the last 4 years. The

unit has also received the highest grade out of

360 high schools in the Nation. Under the able

guidance and direction of Commander William

J. Woodward, USN Ret., the cadets of our

NJROTC unit have learned how to succeed in

competitive situations and prevail in times of

adversity.

Mr. Speaker, I also want to recognize the

tremendous support in the community of

Socorro, TX for the unit. During one of the

unit’s ceremonial evaluations, numerous civic,

fraternal, and military leaders were present as

well as approximately 900 sixth through eighth

graders from local elementary and middle

schools. The facilities the unit uses are among

the best in area 11. Classrooms, office and

storage areas are spacious, well organized

and very well maintained. It is very obvious

that the cadets, school, and the community

take a great deal of pride in the NJROTC program.

I also ask my colleagues to pay tribute to

Commander Woodward’s assistants: Sgt.

Major Robert D. Way, USMC Ret., and Chief

Petty officer Oscar R. Martinez, USN Ret.

Both these individuals have provided countless hours of support and guidance enhancing

the aspirations of the cadets of the unit.

Mr. Speaker, it is with great pride that I recognize the students, parents, teachers, and

school administrators involved with the

Socorro High School NJROTC unit. I ask my

colleagues to join me in saluting them and

wishing them well in their future endeavors.