New Haven, CT – September 9, 2010 – (RealEstateRama) — Congresswoman Rosa L. DeLauro (CT-3) announced today that the city of New Haven was selected to receive a grant of $1,041,579 through the Department of Housing and Urban Development’s Neighborhood Stabilization Program. Originally funded through the American Recovery and Reinvestment Act (ARRA), these funds are part of an additional $1 billion that have been made available through the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The Neighborhood Stabilization Program (NSP) is part of the Community Development Block Grant (CDBG), which works to provide development resources to communities across the country. The NSP’s purpose is to stabilize communities that are suffering from home foreclosures and abandonments. The NSP provides funds to states and local governments to purchase and redevelop properties, establish landbanks and financing programs, and demolish blighted buildings, revitalizing the areas and helping to stimulate communities.
Congresswoman DeLauro said, “I am very pleased that the city of New Haven has been awarded these funds, which will enable us to transform the city for the better, helping American families and businesses in these difficult economic times. I look forward to seeing the positive results for our neighborhoods and its impact on our local economy.”
Contact:
Kaelan Richards
202-225-3661
