- By Dan Kornelis
- Posted Thursday, January 13, 2011
Public Notice by the Department of Housing
The Housing Department plans to apply for a 2011 Neighborhood Stabilization Program 3, Community Development Block Grant from the North Carolina Department of Commerce’s Division of Community Assistance.
The grant amount of $1,000,000 will be used to provide homeownership training, down payment assistance, closing cost and rehabilitation for foreclosed or abandoned homes purchased by households with incomes at or below 120% of median household income. NSP funds will also be used to help finance the acquisition and rehabilitation of 16 foreclosed homes by a qualified non-profit affordable housing provider who intends to own the residential properties and lease them at affordable rent rates to households with low to very low incomes. The NSP is intended to reduce blight, rehabilitate abandoned and foreclosed properties, provide affordable housing for buyers and renters, and stimulate the local real estate market.
While no County matching funds are required to be used by the County to secure these CDBG funds, plans are to use federally allocated HOME funds in the amount of $40,000 to help with the rehabilitation of these properties.
The public is invited to comment on this proposed grant application and can do so by sending written comments to the Forsyth County Department of Housing at 201 N. Chestnut Street, Winston-Salem N.C. 27101. Comments should be submitted by 5:00 PM on February 1, 2011.