Neighborhood Stabilization Program
Eligible Applicant: This program awarded $7,287,000 to the City of Tucson in 2009. Funds have been targeted in census tracts that have been designated as those with high foreclosure rates. The City of Tucson will spend 27.7% of the grant fund meeting the 25% set aside requirement, assisting families earning less than 50% of area median income in the designated target areas. $720,000 of the administration funds have been fully obligated. The balance of the grant has been to purchase foreclosed homes to be sold under a Land Trust model to individuals/families who earn between 50 and 65% of area median income. The City of Tucson will purchase 16 homes to be used as permanent rentals to families earning less than 50% of area median income.
Assistance: Low cost housing for low and moderate income people
Specific Contact: Mike Czechowski, 520-837-5333
Notes: For background, see here.