For Immediate Release

February 6, 2012

U.S. Senator Robert Menendez to Hold Senate Banking Committee Field Hearing on Foreclosure at BUF Health and Human Services Pre-School

Plainfield, NJ – U.S. Senator Robert Menendez (D-NJ), Chairman of the Subcommittee on Housing, Transportation, and Community Development, will hold a Senate Banking Committee Field Hearing titled “Saving Our Neighborhoods from Foreclosure” at BUF Health and Human Services (BUF HHS) preschool on Friday, February 10, 2012 from 11 a.m. – 1 p.m.

At the field hearing, Sen. Menendez and three witnesses will discuss proposals to quell the overflow of foreclosures in New Jersey communities and the effects of foreclosures on New Jersey neighborhoods, including displaced families, a rise in crime and the decline of home values.

Senator Menendez chose the City of Plainfield for the location of the event, as the City has been adversely impacted by a number of foreclosed and abandoned homes. BUF HHS, the site chosen for the hearing, provides services and education to the Latino population in Plainfield.

Ms. Sondra Clark, Director of BUF HHS and President and CEO of the African American Fund of New Jersey (AAFNJ), has seen the effects of foreclosure first hand through her daily work with BUF HHS pre-school students. In addition to working with pre-schoolers at BUF HHS, Ms. Clark also leads the AAFNJ,, which has raised more than $3.5 million for approximately 700 community-based organizations throughout New Jersey. As a result, the topic of the Senator Menendez’s hearing is one that is important to BUF HHS, AAFNJ and the communities that the organizations serve.

While the hearing is open to the public, there will not be an opportunity for public comment.

WHAT: U.S. Senator Robert Menendez to hold a field hearing of the Senate Committee on Banking Housing, and Urban Affairs Subcommittee on Housing, Transportation and Community Development titled: “Saving Our Neighborhoods from Foreclosures.”

WHO: U.S. Senator Robert Menendez, Chairman, Subcommittee on Housing Transportation and Community Development

Witnesses:

  • Mr. Tim Touhey, Chief Executive Officer, New Jersey Builders Association
  • Dr. DeForest B. Soaries, Chief Executive Officer, Central Jersey Community Development Corporation
  • Mr. Wayne Meyer, President, New Jersey Community Capital
  • Mr. Alan Mallach, Senior Fellow, Brookings Institution and Board Member Emeritus, Housing and Community Development Network of New Jersey

At the conclusion of the event, Sen. Menendez, the above witnesses and Ms. Sondra Clark will be available for media interviews.

WHEN:                 Friday, February 10, 2012, 11:00 AM – 1 PM

WHERE: Black United Fund Health and Human Services, 403 W. 7th Street, Plainfield