HUD Announces $50M in Recovery Act Funds

[Eieio]

HUD Announces $50M in Recovery Act Funds to Stabilize Neighborhoods Hit Hard by Foreclosures
Technical experts will help communities better manage backlog of foreclosed homes
HUD News Release
August 26, 2009

WASHINGTON -- U.S. Department of Housing and Urban Development Secretary Shaun Donovan today announced HUD is launching a $50 million effort to help state and local governments address the inventory of foreclosed properties assisted under the Department's Neighborhood Stabilization Program (NSP). HUD is awarding $44.5 million to nine national organizations and another $5.5 million to help local communities purchase, rehabilitate and resell foreclosed properties in especially hard-hit neighborhoods (see attached).

Link
http://www.housingzone.com/probuilder/article/CA6686052.html

Provided through the American Recovery and Reinvestment Act of 2009 (the Recovery Act), these grants will allow HUD to dispatch teams of experts to help improve the effectiveness of neighborhood stabilization programs, particularly in communities with few staff and technical expertise.

"I am proud to announce today one more resource for neighborhoods and communities that have been hit hard by the national foreclosure crisis," said Donovan. "Thanks to the Recovery Act, we are able to dispatch experts into these communities to help them better manage their neighborhood stabilization programs so that small problems don't become big ones."

The Neighborhood Stabilization Program was initially established under Division B, Title III of the Housing and Economic Recovery Act (HERA) of 2008 for the purpose of stabilizing communities that have suffered from foreclosures and abandonment, through the purchase and redevelopment of foreclosed and abandoned homes and residential properties. The Recovery Act provided additional funds for HUD to administer a second round of NSP grants to states, local governments, nonprofits and a consortium of nonprofit entities on a competitive basis. The Recovery Act also authorized HUD to establish the NSP-Technical Assistance (TA) program that is being awarded today.

HUD's NSP-TA grants will:

* Help NSP grantees to implement sound underwriting, management, and fiscal controls;

* Measure outcomes in the use of public funds through accurate and timely reporting;

* Build the capacity of public-private partnerships;

* Develop strategies to serve low-income households;

* Incorporate energy efficiency into State and local NSP programs;

* Provide support, technical assistance, and training on the operation and management of 'land banks;'

* Train grantees and their subgrantees on HUD program rules and financial management requirements; and

* Assist grantees and their subgrantees to develop materials on energy conservation or other Departmental or programmatic priorities.

State and local governments primarily use NSP funding to purchase foreclosed properties and rehabilitate them. Grantees can also offer downpayment and closing cost assistance to low- to moderate-income homebuyers or create "land banks" to assemble, temporarily manage, and dispose of vacant land for the purpose of stabilizing neighborhoods.

[Ed The Roofer]

WASHINGTON -- U.S. Department of Housing and Urban Development Secretary Shaun Donovan today announced HUD is launching a $50 million effort to help state and local governments address the inventory of foreclosed properties assisted under the Department's Neighborhood Stabilization Program (NSP).



HUD is awarding $44.5 million to nine national organizations and another $5.5 million to help local communities purchase, rehabilitate and resell foreclosed properties in especially hard-hit neighborhoods (see attached).

Link
http://www.housingzone.com/probuilder/article/CA6686052.html





Who are the 9 organizations and how will the funding be determined for who qualifies and how will it be overseen and disbursed?

Ed



.

[Eieio]

Name of National Technical Assistance Provider Grant Amount
ICF Incorporated, LLC $11,916,716
Training and Development Associates, Inc. $5,000,000
Cloudburst Consulting Group, Inc. $4,167,420
National Council for Community Development $7,143,123
Enterprise Community Partners, Inc. $7,145,558
Minnesota Housing Partnership $773,024
Urban Land Institute $3,150,000
Local Initiatives Support Corporation (LISC) $3,613,113
Neighborhood Housing Services of America $1,591,046
Total $44,500,000


Name of Local Technical Assistance Provider Local Area Grant Amount
Training and Development Associates, Inc. Northern California $500,000
Training and Development Associates, Inc. Southern California $500,000
Training and Development Associates, Inc. Southern Florida $500,000
Training and Development Associates, Inc. Northern Florida $500,000
ICF Incorporated, LLC Illinois $500,000
ICF Incorporated, LLC Indiana $500,000
ICF Incorporated, LLC Ohio $500,000
Dennison Associates, Inc. Georgia $750,000
Dennison Associates, Inc. New England $750,000
Dennison Associates, Inc. Michigan $500,000
Total $5,500,000

Bang and your reading glasses are in your right front pocket.

[Ed The Roofer]

Bang and your reading glasses are in your right front pocket.

Actually, they are not.

My kid bumped them a few weeks ago and the right lens frame got busted just above the hinge and the super-glue only works for brief periods of time, before the on and off tension undoes the temporary repair once again.



So, who is this ICF Corporation that has several of the States locked up and how and who needs to get a hold of them for the HUD assistance?



Ed



.

[Eieio]

ICF Corporation

http://www.icfi.com/default.asp

[Ed The Roofer]

I read through the links and didn't see the who and how about these funds and where they would be available.

Man, that ICF is connected.

Take a peak at the contracts it has recently been awarded.....Sheesh!!!

Ed

[Dusty]

HUD is awarding $44.5 million to nine national organizations and another $5.5 million to help local communities purchase, rehabilitate and resell foreclosed properties in especially hard-hit neighborhoods

This is not a positive thing. This money goes to community organizations who doll up substandard housing, over inflate home values, and resell them to individuals who can barely afford the mortgages using special gov't grant money programs and tax abatements. Often these homes are forclosed on with in just a few years.

On the surface it all looks beautiful. In reality these programs are pure BS. Come to Toledo and I'll take you on a tour and show you what is truely created with Federal grant money.

Glorified flips.

[Eieio]

HUD is awarding $44.5 million to nine national organizations and another $5.5 million to help local communities purchase, rehabilitate and resell foreclosed properties in especially hard-hit neighborhoods

This is not a positive thing. This money goes to community organizations who doll up substandard housing, over inflate home values, and resell them to individuals who can barely afford the mortgages using special gov't grant money programs and tax abatements. Often these homes are forclosed on with in just a few years.

On the surface it all looks beautiful. In reality these programs are pure BS. Come to Toledo and I'll take you on a tour and show you what is truely created with Federal grant money.

Glorified flips.

Depends on how, who and where the funds are used. I have seen the good and bad of these organizations.

So I won't put all of them in the same box. But I get your drift.