Neighborhood Assistance Act

Neighborhood Assistance Act - Amends the Federal Property and Administrative Services Act of 1949 to authorize the Administrator of General Services to transfer to any nonprofit organization that exists for the purpose of providing housing or housing assistance for homeless or low-income individuals or families, such surplus real and personal property as is needed for housing use.

Directs the Administrator, in making transfers, to take such action as may be necessary to ensure that: (1) assistance provided is used to facilitate and encourage home ownership opportunities through the construction of self-help housing, under terms that require that the person receiving the assistance contribute a significant amount of labor toward the construction; and (2) the dwellings constructed with property transferred be quality dwellings that comply with local building and safety codes and standards and be made available at prices below prevailing market prices. States that if the Administrator transfers a significant portion of a surplus real property, the transfer of the entire surplus real property is deemed to be in compliance with title V of the Stewart B. McKinney Homeless Assistance Act.

Modifies the exception regarding the transfer of surplus personal property by the Administrator to a State agency for distribution through donation to nonprofit educational or public health institutions or organizations, to include providers of assistance to families or individuals whose annual incomes are below 185 percent of the poverty line.