|Under the Federal Housing and Economic Recovery Act of 2008, the City of Anaheim will receive $2,653,455 in Community Development Block Grant (CDBG) funds to establish a Neighborhood Stabilization Program (NSP). HUD determined the City’s NSP allocation based on Anaheim’s percentage of home foreclosures, percentage of homes financed by subprime loans and the likelihood of a significant rise in the rate of home foreclosures.
The City may use NSP funds for the acquisition, rehabilitation and/or redevelopment of abandoned or foreclosed residential properties and the subsequent sale or rental of such properties to households with incomes up to 120 percent of the area median income. At least 25 percent of NSP funds must help households with incomes below 50 percent of the area median income.
TO VIEW THE ANNUAL ACTION PLAN AMENDMENT FY 2008 - 2009 Click Here
TO VIEW THE ANNUAL ACTION PLAN AMENDMENT FY 2008 - 2009 SECOND AMENDMENT Click Here
Please contact Christopher Gerry at (714) 765-4352 with specific questions regarding this matter.