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Levin, Stabenow announce $500,000 to assist neighborhoods struck
by foreclosures
WASHINGTON, D.C., August 27, 2009: U.S. Sens.
Carl Levin and
Debbie Stabenow, both D-Mich.,
announced $500,000 in funding for distressed Michigan
communities to address areas with large numbers of foreclosures.
The funding is part of $5.5 million being provided by the U.S.
Department of Housing and Urban
Development through its
Neighborhood Stabilization Program to help local
communities purchase, rehabilitate and resell foreclosed
properties in especially hard-hit neighborhoods.
The Neighborhood Stabilization Program
was initially established in 2008 for the purpose of stabilizing
communities that have suffered from foreclosures and
abandonment, through the purchase and redevelopment of
foreclosed and abandoned homes and residential properties.
The grant money can be used to purchase and rehabilitate
foreclosed properties, as well as offer down payment and
closing cost assistance to low-
and moderate-income homebuyers or create
land banks to assemble,
temporarily manage and dispose of vacant land for the purpose of
stabilization neighborhoods.
Also, more than $1.8 million for emergency food and shelter
Levin
and Stabenow
further announced that three Michigan counties and the city of
Detroit would receive $1,836,727 in Emergency Food and Shelter
funds from the Federal Emergency Management Agency (FEMA).
Macomb County, Oakland County, Wayne County and the city of
Detroit will all receive funds as part of $2,650,774 being
distributed this month.
The Emergency Food
and Shelter National Board Program (EFSP) is a federal program
administered by FEMA. It is
tasked with supporting ongoing efforts to provide shelter, food
and supportive services for the nation’s hungry, homeless and
others in economic crisis. Program funds can be used to provide
food, lodging, assistance with transportation costs and other
assistance to the target community.
The funds are part of a reallocation from previously unexpended
or returned funds. Ten county and municipal agencies across the
country requested the additional funding from the Emergency Food
and Shelter National Board. The funds, 70 percent of which are
going to Michigan, were allocated on a per capita basis by the
board.
The funds will be disbursed as follows:
Macomb County, $472,747; Oakland County, $400,000; Wayne
County, $363,980, and Detroit,
$600,000. |
