HUD Announces Additional $1 Billion to Stabilize Neighborhoods Hard-Hit by Foreclosures

U.S. Housing and Urban Development Secretary Shaun Donovan has awarded an additional $1 billion in funding to all states, along with a number of counties and local communities struggling to reverse the effects of the foreclosure crisis. The grants represent a third round of funding through HUD's Neighborhood Stabilization Program (NSP) and will provide targeted emergency assistance to state and local governments to acquire, redevelop or demolish foreclosed properties   www.smartgrowth.org/news/article.asp?art=7789

 

Article Courtesy of Smart Growth (www.smartgrowth.org)