Glendale Received Neighborhood Stabilization Funds
Glendale received $6.1 million in stimulus money called Neighborhood Stabilization Funds or NSP, which is a one-time, federally funded program designed to mitigate the impact of foreclosed properties in communities. In Glendale, the NSP allocation will be used to fund the following key initiatives to revitalize the community:
- $278,326 will be used to provide loans to low-income, first-time homebuyers to help finance the purchase of a foreclosed home within three targeted zip codes including 85301, 85302, and 85303.
Click here for more information on this program.
En espanol (pdf)
- More than $600,000 has been obligated to Habitat for Humanity to purchase foreclosed homes; another $1.2 million will go to Chicanos por Las Causa for the purchase of foreclosed homes; an additional $900,000 will be obligated for city-initiated foreclosed property acquisition and possible demolition of sub-standard properties.
- $2.9 million has been awarded through a competitive RFP process to two projects, which will provide affordable senior rental housing for eligible residents.
- The National Farm Workers Service Center (NFWSC) will construct a 49-unit, senior-only development on a foreclosed and vacant parcel at 5614 N. 67th Ave.
- Native American Connections will construct a two-story, 60 units, and senior only rental complex on a foreclosed and vacant parcel at 59th Avenue and Laurie Lane.
The balance of approximately $300,000 of the NSP funds will be used for administrative costs in implementing these programs.
Each of these activities are consistent with the priorities of the city’s 2005-2009 Five-Year Consolidated Plan, which was reviewed and adopted by the Mayor and Council in 2005.
Click here for a copy of summary sheet on NSP funding in Glendale.