DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Neighborhood Stabilization Program 2
[39 Pa.B. 3177]
[Saturday, June 27, 2009]
The Department of Community and Economic Development (Department) is proposing to submit a Consortium application for Neighborhood Stabilization Program 2 (NSP2) funds authorized under the American Recovery and Reinvestment Act of 2009 (42 U.S.C.A. § 5301). The United States Department of Housing and Urban Development (HUD) issued a notice announcing a deadline for applications seeking funding through a competitive process for these funds.
The Department developed a set of submission requirements to coordinate a Consortium application for NSP2 funds. Any eligible applicant seeking to participate in this Consortium application must adhere to the submission requirements available on the Department's web site at http://www.newpa.com/find-and-apply-for-funding/funding-and-program-finder/funding-detail/index.aspx?progId=182. The Department is willing to cooperate with any local government or other eligible applicant that can meet the requirements of the NSP2 program and the submission requirements the Department established.
The purpose of NSP2 funds is to provide funding to address the housing foreclosure crisis created by subprime and other problematic mortgage lending, as well as the economic recession. NSP2 funds can be used for financing mechanisms, acquisition and rehabilitation of foreclosed homes, land bank activities, demolition or redevelopment of properties for residential purposes.
Local members of the Consortium will be required to disseminate information about projects, properties, and the use of funds in their local general newspapers and on their web site. The local Consortium members will also be responsible for receiving and responding to public comments on those projects and uses of funds.
Submissions will be accepted and must be received by the Department by July 8, 2009. All NSP2 applicant submissions must be sent to Jody Michael, Department of Community and Economic Development, Center for Community Development, 400 North Street, 4th Floor, Harrisburg, PA 17120.
GEORGE E. CORNELIUS,
[Pa.B. Doc. No. 09-1146. Filed for public inspection June 26, 2009, 9:00 a.m.]
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