The federal Department of Housing and Urban Development (HUD) has awarded $54.8 million from the Housing and Economic Recovery Act (HERA) to Massachusetts and four of its cities. These NSP funds are to be used primarily for the acquisition and rehabilitation of abandoned and foreclosed properties.
The awards amounts are:
• Massachusetts - $ 43.47 million
• Boston - $ 4.23 million
• Brockton - $ 2.15 million
• Springfield - $ 2.57 million
• Worcester - $ 2.39 million
The Commonwealth of Massachusetts through the Department of Housing and Community Development (DHCD) applied for funds under the Neighborhood Stabilization Program 2 (NSP2). Funding is provided by the U.S. Department of Housing and Urban Development (HUD) and is authorized under the American Recovery and Reinvestment Act of 2009. The primary goal of NSP2 is the redevelopment of abandoned and foreclosed upon homes and residential properties, first through the arrest of neighborhood decline and secondly by stabilizing the neighborhood and positioning the neighborhood for a sustainable role in a revitalized community.
DHCD is collaborating with the Massachusetts Housing Partnership and the Massachusetts Housing Investment Corporation on their award of NSP2 funds.
DHCD will continue to post new NSP2 material as information becomes available.