Funds to Aid Homebuyers, Stabilize Neighborhoods
FLORENCE, AZ – Pinal County has received $3,168,315 in federal Neighborhood Stabilization Program (NSP3) funds. These are funds made available through the U.S. Housing & Urban Development (HUD) Program’s Neighborhood Stabilization Program. The program provides targeted emergency assistance to state and local governments to acquire, redevelop or demolish foreclosed properties. This will meet the HUD objective of stabilizing neighborhoods damaged by foreclosure, vacancy or abandoned properties.
The County will be using its $3.17 million allocation to address foreclosure issues in four “areas of greatest need” that meet strict criteria outlined by the HUD grant program. The areas chosen are select neighborhoods within the cities of Apache Junction, Coolidge and Casa Grande. The areas were chosen based on criteria set forth by the NSP3 program as well as input from municipal employees within the county.
Adeline Allen, Pinal County Housing and Community Development Director, explained that selecting areas of focus was made difficult by the limitations imposed on use of the funds.
Much of the funding will be used to help qualified home buyers with down payment and closing cost assistance and financing for rehabilitation assistance to purchasers of NSP3 properties. The funds will be available to applicants who meet income and other qualifications and intend to purchase or rehabilitate properties within select neighborhoods in Apache Junction, Coolidge and Casa Grande.
To learn more about the specific income and financing prerequisites, please contact the Pinal County Housing & Community Development Department office, Monday through Friday from 8:00 AM to Noon or by phone at 520-866-7203. The office is located at 970 North Eleven Mile Corner Road, Casa Grande, AZ.
970 North Eleven Mile Corner Road
Casa Grande, AZ 85194
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