Governor Carcieri Announces Details of Neighborhood Stabilization Program

$19.6 million to buy and rehab foreclosed and abandoned properties and provide down payment assistance for first-time homebuyers

10:30 a.m. Wednesday, December 17, 2008 State Room, State House Providence, RI

Governor Donald L. Carcieri will join US Senator Jack Reed, representatives from Rhode Island Housing, and the Rhode Island Office of Housing and Community Development at a press conference on Wednesday, December 17th, to announce the details of the State’s Neighborhood Stabilization Program.

Administered through a partnership between the Rhode Island Office of Housing and Community Development and Rhode Island Housing, the Neighborhood Stabilization Program provides $19.6 million to acquire and redevelop foreclosed and abandoned properties, down payments for first-time homebuyers, and funding for demolition of blighted properties. The $19.6 million funding is provided under the federal Housing and Economic Recovery Act of 2008.

 

 

 

 

USGBC - U.S. Green Building Council

HUD - U.S. Department of Housing and Urban Development

NAR - National Association of REALTOR

RealtyTrac

FHFA - Federal Housing Finance Agency

Freddie Mac

MBA - Mortgage Bankers Association