HUD annouces $2 billion in recovery act grants to stabalize neighborhoods

[The Straight Story]

HUD SECRETARY DONOVAN ANNOUNCES $2 BILLION IN RECOVERY ACT GRANTS TO STABLIZE NEIGHBORHOODS, REBUILD LOCAL ECONOMIES
Stabilization grants to help neighborhoods recover from the housing crisis

WASHINGTON – U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced today that HUD is awarding $2 billion in Recovery Act funding to states, local governments and non-profit housing developers, under HUD’s Neighborhood Stabilization Program (NSP), to spur economic development in hard-hit communities and create jobs. Nearly 60 grantees are receiving awards. A full list of grants awarded today can be found on HUD’s Recovery Act website.

Funded through the American Recovery and Reinvestment Act, this round of NSP grants is being awarded competitively to applicants who developed the most innovative ideas to rebuild local communities, while demonstrating that they have the capacity to be responsible stewards of taxpayer dollars.

“By investing Recovery Act dollars in revitalizing hard-hit neighborhoods, we’re not only creating new job opportunities, but giving communities across the country an opportunity for a fresh start,” said Vice President Biden. “These competitive awards go to the heart of the Recovery Act: funding innovative projects that both provide immediate relief and help lay a new foundation for long-term economic growth.”

“Vacant homes have a debilitating effect on neighborhoods and often lead to reduced property values, blight, and neighborhood decay,” said Donovan. “This additional $2 billion in Recovery Act funding will help stabilize hard hit communities by turning vacant homes into affordable housing opportunities. The Neighborhood Stabilization program is a key part of the Obama Administration’s comprehensive approach to address the national housing and economic crisis.”

The $2 billion in NSP grants being awarded today will build on the work being done now to help state and local governments and non-profit developers collaborate to acquire land and property; to demolish or rehabilitate abandoned properties; and/or to offer down-payment and closing cost assistance to low- to middle-income homebuyers. Grantees can also create “land banks” to assemble, temporarily manage, and dispose of foreclosed homes.

The awards will also require housing counseling for families receiving homebuyer assistance funds through NSP. In addition, it will protect homebuyers by requiring grantees to ensure that new homebuyers under this program obtain a mortgage from a lender who agrees to comply with sound lending practices.

http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-012

[DJ13]

1. I wish these programs also aided existing homeowners in renovations

From reading the link it sounds like this mainly deals with vacant homes that are purchased.

[The Straight Story]

2. They may have such a program would have to look further though

if I find anything will post it.

[DJ13]

3. Thanks, would be good to know

I looked, but those .gov websites are a maze of links to pointless info.

[The Straight Story]

4. Here is a tip to help:

use google.com/unclesam - only searches govt websites (you can also do a custom google search and tell it to only search certain domains/sites).

[The Straight Story]

6. One more this one is much better:

http://portal.hud.gov/portal/page/portal/HUD/topics/home_improvements

Home Improvements


Whether you want to fix a faucet or add a new addition to your home, you need to know the facts and the pitfalls of home improvements. Here are some sources that can help.
Federal Loan Programs
- About HUD's rehabilitation and repair home loan
- Program description
- Q&As about HUD's rehabilitation and repair loan
- HUD's property improvement loan
- Fixing up your home and how to finance it
- HUD-approved lenders
- Home Improvement Loans for Native Americans
- Rural home improvement and repair loans/grants

[DJ13]

7. Great info, thanks for all your effort!

[The Straight Story]

5. Here is one link about grants for home renovation:

http://www.hud.gov/offices/lead/grantprograms.cfm

Will let you know what else I dig up.

[conscious evolution]

8. Here is a link for rural

grants and funding
http://ric.nal.usda.gov/nal_display/index.php?info_center=5&tax_level=2&tax_subject=319&level3_id=0&level4_id=0&level5_id=0&topic_id=1566&&placement_default=0