U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced today that HUD is awarding $2 billion in Recovery Act funding to states, local governments and non-profit housing developers, under HUD’s Neighborhood Stabilization Program (NSP), to spur economic development in hard-hit communities and create jobs. Nearly 60 grantees are receiving awards. A full list of grants awarded today can be found on HUD’s Recovery Act website.
http://portal.hud.gov/portal/page/portal/HUD/documents/nsp2grantchartandsummaries.doc
Funded through the American Recovery and Reinvestment Act, this round of NSP grants is being awarded competitively to applicants who developed the most innovative ideas to rebuild local communities, while demonstrating that they have the capacity to be responsible stewards of taxpayer dollars.
“By investing Recovery Act dollars in revitalizing hard-hit neighborhoods, we’re not only creating new job opportunities, but giving communities across the country an opportunity for a fresh start,” said Vice President Biden. “These competitive awards go to the heart of the Recovery Act: funding innovative projects that both provide immediate relief and help lay a new foundation for long-term economic growth.”
“Vacant homes have a debilitating effect on neighborhoods and often lead to reduced property values, blight, and neighborhood decay,” said Donovan. “This additional $2 billion in Recovery Act funding will help stabilize hard hit communities by turning vacant homes into affordable housing opportunities. The Neighborhood Stabilization program is a key part of the Obama Administration’s comprehensive approach to address the national housing and economic crisis.”
To learn more about the story of the Recovery Act, visit www.WhiteHouse.gov/Recovery. To follow Recovery Act dollars, visit www.Recovery.gov.
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About Me
- Chase Fonteno
- Dallas, Texas, United States
- Born in Houston, nicknamed Chase; in elem. School. In High School, took the last name of the step-father who raised him. Started his first business at 14 with friends mowing lawns he got the contracts on. Pres. of school’s Junior Achievement Company & after visiting Hearst Castle at 16, began reading 100’s of Biographies of Business Icon’s to learn. Worked for elder Bushs oil company (Zapata Offshore) when in College, but passion was Real Estate – doing first deal at 17. Broker at Merrill Lynch; formed a successful securities firm. Mr Fonteno has bought, sold, leased, managed and renovated 1,000s of single & multi-family properties in the last 30+ yrs. Founder Pres. of the Phoenix Foundation, a charitable organization assisting battered women; children, Member of the World Affairs Council and current/past involvement with the Heart Association, Multiple Sclerosis, Cancer Society, Boy Scouts of America and other charitable organizations. Also the Chairman of the Hilton Head Charitable Land Trust, a new charitable organization, formed to acquire land in the US to maintain permanently in its natural environment to never be commercially developed.
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