Responding to a request from United States Senator Mary L. Landrieu, D-La., the U.S. Department of Housing and Urban Development (HUD) has announced that the $2 billion in Neighborhood Stabilization Program (NSP) funds included in the American Recovery and Reinvestment Act may be used for properties damaged or destroyed by natural disasters. In a letter Sen. Landrieu, Peter Kovar, HUDs Assistant Secretary for Congressional and Intergovernmental Affairs, noted that eligible NSP activities now include the redevelopment of demolished or vacant properties for housing purposes. Prior to Sen. Landrieus request, NSP funds were not eligible for properties that were not foreclosed or declared blighted.
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December 24th, 2009 at 2:43 am
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