Thursday, March 19, 2009
Congresswoman Kilpatrick Announces the Release of HUD Funding to Help Redevelop Foreclosed Properties in the 13th Congressional District
Detroit, Lincoln Park, and Wayne County to Receive More Than $75 Million
Washington, DC — Congresswoman
Carolyn Cheeks Kilpatrick (MI-13) today announced that Detroit, Wayne
County, and Lincoln Park will receive more than $75 million from the
U.S. Department of Housing and Urban Development (HUD) to redevelop
abandoned and foreclosed homes. Detroit will receive $47.1 million,
Wayne County will receive $25.9 million, and Lincoln Park will receive
$2.4 million.
“It is critical to stabilize neighborhoods and
stop home values from declining further as we work to revitalize the
economy,” said Congresswoman Kilpatrick. “This immediate infusion of
funds will help cities in the 13th Congressional District purchase and
rehabilitate, resell, or redevelop homes, and, ultimately, preserve the
American dream of homeownership.”
The funds will be
distributed through HUD’s Neighborhood Stabilization Program, which
provides emergency assistance to state and local governments to acquire
and redevelop foreclosed properties that might otherwise become sources
of abandonment and blight within their communities. The program
provides grants to every state and certain local communities to support
efforts to stabilize neighborhoods and stem the decline of house values
of neighboring homes. For more information, visit www.hud.gov.
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