Neighborhood Stabilization Program Funds Now Available

You may recall that last summer the Congress passed and President signed into law legislation to help address the housing and foreclosure crisis.  One of the programs established was the "Neighborhood Stabilization Program."  Michigan's share of the funding is $263 million.  The first wave of this funding has come through and been allocated to entitlement communtiies. Now, additional funding is being made available on a competitive basis.   The Michigan State Housing Developmen Authority is administering the program.  A number of activities are eligible for funding including 1) acquisition and rehabilitation of foreclosed or abandoned single family homes for resale to owner-occupants; 2) demolition of blighted structures for green space or for immediate redevelopment; 3) redevelopment of demolished or vacant lots for single family owner occupied housing: 4) redevelopment of demolished or vacant properties for public facilities or public services.  To learn more about the program and how to apply for these funds visit the MSHDA website.  Applications are due Aprill 23rd.