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HUD Awards $1 Billion More in Neighborhood Stabilization Funds

The Department of Housing and Urban Development has awarded an additional $1 billion in Neighborhood Stabilization Program (NSP) funds to states, counties and local communities. The grants are the third round of NSP funding and will assist state and local governments in acquiring, redeveloping, or demolishing foreclosed properties.

Each grantee must use 25% of its award to house families at or below 50% of Area Median Income. To determine how much additional NSP funding your jurisdiction received, visit HUD’s website.

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