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HUD's new Neighborhood Stabilization Program is designed to provide emergency assistance to local and state governments, like Eugene and Springfield to acquire and redevelop foreclosed properties. As I stated in a recent blog, Bob Briscoe, Eugene Planning and Development Department, announced to our Town Hall meeting that Eugene had recently received over $600,000 and Springfield over $300,000 under this program. The program is for owner occupied or non profit purchases only. Both cities are currently working on program guidelines that will help in the use of this money, possibly in conjunction with existing programs like the FHA 203k Streamline. Preliminary thoughts about … (11 comments)
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