State awarding community development funds in the I.E.

The state Housing and Community Development Department is distributing $92.7 million from the federal Neighborhood Stabilization Program to 96 communities.  The funds are meant to “go toward rejuvenating neighborhoods and communities that are hardest hit by the foreclosure crisis,” according to an agency news release.  San Bernardino County cities are receiving more than $2.7 million of the funds.  Chino was awarded the largest chunk of funds in the county, $1.78 million.  Next highest was Redlands, which will receive $672,313.  Upland will receive $560,366, and Chino Hills will get $550,622.

In Riverside County, Coachella, Palm Desert and Palm Springs will receive a combined total of $1.85 million, and the county will receive $448,898.  Los Angeles County will get $4.8 million.  The funds can be used for five activities:

* To purchase and rehabilitate homes to sell, rent or redevelop.
* To create land banks for homes that have been foreclosed upon.
* To demolish blighted structures.
* To redevelop demolished or vacant properties.
* To establish financing mechanisms for purchase and redevelopment of foreclosed-upon homes and residential properties.

For a listing of total awards, go to: www.hcd.ca.gov/fa/nsp/ChartofAllNSPAwards.pdf

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