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| Neighborhood stabilization plan reviewed |
| By ABC Newspapers |
| Published: 11/13/2008 |
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MINNESOTA - A plan to implement the federal Neighborhood Stabilization Program (NSP) in Anoka County will go before the Anoka County Housing and Redevelopment Authority (HRA) for approval at its Tuesday, Nov. 18, 2 p.m., meeting. The U.S. Department of Housing and Urban Development (HUD) has awarded Anoka County $2,377,310 in NSP funds to acquire property, demolish or rehabilitate abandoned or foreclosed properties, offer down payment and closing cost assistance to buyers or create a land bank to assemble land for future development. This federal program has been put in place in response to rising foreclosures and falling home values. According to Karen Skepper, county community development manager, Congress has mandated that the NSP funds must be targeted to areas with the highest rate of foreclosures, sub-prime mortgages, mortgage defaults and delinquencies. Read more. If link has expired, check the website of the article's original news source. |
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