Items Tagged with 'Blight elimination Program'


  • Fannie, Freddie expand neighborhood stabilization efforts to 10 new markets

    Partnership with National Community Stabilization Trust grows to new cities
    Three years ago, Federal Housing Finance Agency Director Mel Watt announced the “Neighborhood Stabilization Initiative,” an effort to assist homeowners in communities that were disproportionally affected by foreclosures. Now, the Neighborhood Stabilization Initiative is being expanded to 10 new markets.
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  • Blighted Michigan homes expose residents to hazardous materials if demolished

    Includes risk of asbestos exposure, illegal dumping, and contaminated soil
    House demolitions through the Hardest Hit Fund’s Blight Elimination Program in Michigan could expose residents to hazardous materials and other risks, according to a new report conducted by the U.S. Army Corps of Engineers on behalf of the Office of the Special Inspector General for the Troubled Asset Relief Program. Here’s a list of the most likely risks, along with the ways to fix them.
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  • New York awards $10 million to 18 cities to fight neighborhood blight

    Money comes from financial crisis settlements
    Over the last several years, the state of New York has undertaken a multi-pronged approach to fight the blight that took place in many neighborhoods throughout the state in the wake of the housing crisis. And Monday, the office of New York Attorney General Eric Schneiderman announced that it is launching a new program and awarding $10 million over the next two years to 18 cities to be used for neighborhood revitalization.
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  • Michigan plans $75M more fed funds to fight blight in Detroit, Flint

    Plan to utilize increased Hardest Hit Fund allocation approved
    The office of Michigan Gov. Rick Snyder announced the Treasury Department's approval of the Michigan State Housing Development Authority’s plan to utilize the $74.5 million allocated to the state as part of an expansion of the Hardest Hit Fund program, paving the way for increased foreclosure prevention and blight elimination efforts in the cities of Detroit and Flint.
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  • New Orleans planning huge public property auction

    City seeks to revitalize blighted neighborhoods
    The city of New Orleans is planning to auction of 3,000 tax-adjudicated properties in an effort to revitalize some of the city’s blighted neighborhoods. According to a report in the New Orleans Times-Picayune, prospective buyers will be able to view the properties online beginning March 6 and may be able to claim a property for as little as $3,000.
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  • SIGTARP: Treasury must develop oversight for Blight Elimination Program

    6 states take advantage of new Hardest Hit Fund category
    The Treasury recently created a new category for the Hardest Hit Fund program, marking a significant shift in the Treasury’s approach to the use of HHF funds. While the Special Inspector General for the Troubled Asset Relief Program has raised some questions and concerns, hard-hit states like Michigan appear to be benefitting from it.
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