On Thursday night, Southeast San Diego residents will meet to discuss remedies for neighborhood financial distress brought by foreclosures and irresponsible banks.

Town hall forum: “Stand Up For Neighborhoods”
Thursday, August 18 at 6 pm
Jacobs Center
404 Euclid Avenue, San Diego

Community, faith and labor leaders will join others to share accounts of families and neighborhoods shattered by the foreclosure crisis.

The event’s organizers are also building community support for the “Property Value Protection Ordinance,” which would create a registry of foreclosed homes in the city of San Diego and levy a steep fine on any banks that don’t properly maintain their foreclosure properties.

CPI and ACCE’s recent study, “Foreclosure: The Cost Communities Pay,” finds the price for servicing San Diego’s foreclosed homes from 2008 through 2012 will be at least $134 million, and could run as high as $855 million. Thursday’s forum will explore policy solutions to stem the flood of cash from the community coffers and ensure banks pay their fair share.

Community Housing Works will also be on hand to discuss resources for homeowners facing foreclosure.

“Stand Up For Neighborhoods” is organized by the Alliance of Californians for Community Empowerment (ACCE), the Center on Policy Initiatives (CPI) and AFSCME Local 127, with the following cosponsors: Affordable Housing Coalition of San Diego, American Federation of Teachers Local 1931, Home Defenders League, Interfaith Committee for Worker Justice of San Diego County, Justice Overcoming Boundaries (JOB), United Domestic Workers, San Diego County Building and Construction Trades Council, and the San Diego and Imperial Counties Labor Council.