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Washington, D.C. – Congressman Pete Visclosky today announced that the City of Gary will receive a $3,836,758 grant from the U.S. Department of Housing and Urban Development’s Neighborhood Stabilization Program. The funding is intended to help the city address the public safety and quality of life issues posed by abandoned and foreclosed properties.
“This grant will help Gary tackle the public safety and crime problems associated with urban decay by attacking the source itself, foreclosed and abandoned properties,” said Visclosky. “Urban revitalization begins with creating clean, safe neighborhoods that offer an improved quality of life. These funds should help Gary reverse the course of urban decline that is plaguing some neighborhoods and build the vibrant communities they can become.”
The Neighborhood Stabilization Program was authorized by the Housing and Economic Recovery Act of 2008, which Visclosky supported, to provide emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The funds may be used in a variety of ways, including establishing financing mechanisms to assist individuals in purchasing foreclosed homes, acquiring and rehabilitating abandoned or foreclosed homes, establishing a land bank for foreclosed homes, demolition of blighted structures, and redevelopment of vacant and demolished properties. |
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