|
Commerce Seeks Comment on Plan for Federal Neighborhood Stabilization Program Funds for Foreclosed Property Assistance
For Immediate Release: November 10, 2008 MADISON - The public is invited to comment on the draft Neighborhood Stabilization Program Funding Plan (Plan) developed by the Wisconsin Department of Commerce (Commerce). Commerce developed the draft Plan in order to secure $39 million in assistance allocated to Commerce by the US Department of Housing and Urban Development (HUD). The allocated funds will be used for redevelopment of abandoned and foreclosed homes and residential properties. "Commerce has developed a plan that will help us reach communities who have the greatest need for assistance," said Commerce Secretary Dick Leinenkugel. "We want to do all we can to help neighborhoods recover from the impact of foreclosures." The draft Plan describes the process that will be used to determine the areas of greatest need; the distribution and eligible uses of funds; the state and federal regulations and policies applicable to funded activities; and the expected outcomes and benefits to low-, moderate-, and middle- income families. After the comment period, Commerce will submit the Plan to HUD in order to secure the $39-million allocation. Local units of government, federally-recognized American Indian tribes or bands, Public Housing Agencies, and other nonprofit housing-related entities will then be eligible to apply to Commerce for funding. The draft Plan is available at here. Spanish and Hmong translations of the Substantial Amendment summary will also be available. The 15-day public comment period on the draft Substantial Amendment begins November 8, 2008. Written, faxed, or email comments to the draft Amendment must be received by 9 a.m. on November 24, 2008. For a paper copy of the draft Plan, or to provide comments, please contact: Jeanne Storm -30- |
|