WASHINGTON – Today, U.S. Senator Herb Kohl announced that the City of Milwaukee received grant funding through the U.S. Department of Housing and Urban Development's Neighborhood Stabilization 2 Programs (NSP) totaling $25 million. This funding will be used for neighborhood stabilization and homebuyer rehabilitation programs. In September, Kohl sent a letter to the Department of Housing and Urban Development supporting the grant application submitted by the City of Milwaukee.  

"The collapse in the housing market hit urban areas hard, and Milwaukee is no exception.  Faced with a high number of foreclosures and neglected properties, the City has made tremendous strides toward preserving neighborhoods and staving off blight.  This grant funding is vital to the continuation of Milwaukee's community development and neighborhood stabilization efforts," Kohl said.              

The City of Milwaukee and its housing market were hit particularly hard by the downturn in the economy. In the last two years, there have been more than 12,000 foreclosure actions initiated against properties in the city with over 4,800 reaching Sheriff's Sales. Along with city officials and partnering agencies, Senator Kohl's office has participated in the community-wide effort to address this crisis. With the assistance of NSP 1 funding, the Homeownership Consortium was established to promote NSP program opportunities and resources, as well as implement homebuyer and rental rehabilitation programs. The success of the rehabilitation efforts can be measured in the more than $4 million of investment in foreclosed properties.  The City also created a foreclosure land bank and established a partnership with the National Community Stabilization Trust to acquire foreclosed properties and work with private partners to reduce blight and keep neighborhoods safe.                      

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