Abandonment Disaster Demonstration Relief Act

[AI summary unavailable — showing source text] Abandonment Disaster Demonstration Relief Act - States that it is the purpose of this Act to establish a Neighborhood Protection Corporation which will have the authority, on a demonstration basis, to enter and take possession of abandoned residential properties in order to prevent the continued deterioration and destruction of neighborhoods and communities and to hold and assemble parcels of land for the orderly development and redevelopment of neighborhoods and communities. Establishes a corporation to be known as the Neighborhood Corporation, which shall be an independent agency of the United States. Prohibits the Corporation or any of its functions, powers, or duties from being transferred to or consolidated with any other department, agency, or establishment of the Federal Government. Requires the demonstration program to be conducted in three metropolitan housing areas. States that in the case of abandoned residential property subject to a mortgage which is insured or guaranteed by an agency of the United States, the Corporation may file in the United States district court wherein the property is located an action for forfeiture of such property to the United States, and an a…