Denver releases draft action plan for federal Neighborhood Stabilization Program 3

Denver releases draft action plan for federal Neighborhood Stabilization Program 3

Public comment period for strategy addressing acquisition/rehabilitation of foreclosed single family properties runs through Feb. 26, 2011

The Denver Office of Economic Development (OED) has released a draft action plan for how the City and County of Denver will administer the federal Neighborhood Stabilization Program 3 (NSP3) activities.

 

Public comments regarding the draft plan will be accepted by OED via email, at melissa.stirdivant@denvergov.org, through February 26, 2011. Following the public comment period, a final plan will be submitted to the U.S. Department of Housing and Urban Development on March 1, 2011.

 

The NSP3 was created through the Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act). The program provides Denver with a $2,700,279 allocation to acquire and redevelop foreclosed single family properties that might otherwise become sources of abandonment and blight. Federal guidelines require that program funds be implemented in areas that have experienced the greatest incidence of residential foreclosures. In Denver, these targeted neighborhoods are: 

 

  • Tier One — Globeville and West Colfax
  • Tier Two — Villa Park and Elyria Swansea

 

Single family homes in Tier One neighborhoods will be the initial focus of these NSP3 funds. 

 

The draft action plan is posted online at www.milehigh.com. If translation services are required, contact Melissa Stirdivant at 720-913-1541 or melissa.stirdivant@denvergov.org.


Posted on Thursday, February 17, 2011 (Archive on Monday, April 18, 2011)
Posted by woodoed  Contributed by woodoed
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