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Latino State News

COMMUNITY:  South Lawndale to Receive Portion of Federal Funds for Neighborhood Rehab

Mayor Richard M. Daley said today Chicago has received more funding through the federal Neighborhood Stabilization Program (NSP)—$168 million—than any other local government in the country and is using the money to acquire and rehabilitate foreclosed properties and turn them into affordable housing units.  NSP is administered by the U.S. Department of Housing and Urban Development and provides cities with funding to acquire and redevelop vacant, foreclosed properties. 

Daley announced today that the City has reached its goal—almost one month before the deadline—of committing to projects all of the $55 million it received in round one of the Neighborhood Stabilization Program.  And he announced that in the third round of funding, Chicago has been awarded $15.9 million in NSP money. Chicago also received $98 million in round two. 

The following community areas are included in the City’s Neighborhood Stabilization Program:

Albany Park, Auburn Gresham, Austin, Burnside, Chatham, Chicago Lawn, East Garfield Park, Englewood, Fuller Park, Grand Boulevard, Greater Grand Crossing, Hermosa, Humboldt Park, Logan Square, New City, North Lawndale, Oakland, Pullman, Riverdale, Roseland, South Chicago, South Deering, South Lawndale, South Shore, Washington Park, West Englewood, West Garfield Park West Pullman and Woodlawn.