Mon November 26, 2012
City exhausts federal stabilization grant
In July of 2010, the City of Columbus received one-million dollars from the federal Neighborhood Stabilization Program to demolish and rehabilitate vacant and abandoned homes. Columbus Housing Administrator Rita Parise says that money has now been spent.
Parise: ...developing and selling 27 home ownership units, developing and leasing 87 affordable rental units, demolishing 98 blighted properties and acquiring 258 properties for the city land bank. As homes continue to sell we are able to recapture a portion of the funds that were used to construct those units. And then put those back into productive use, in our most impacted neighborhoods, those neighborhoods severely affected by foreclosure and abandonment.
The City will spend another 860-thousand dollars from the NSP program and from the sale of vacant and abandoned lots. Parise says this money will be used to demolish and repair blighted properties on the South Side and in the King Lincoln District.
Parise: But there will be additional dollars come in to round out this 860. We will continue to invest those in all eligible areas. And the eligible ares are reflected by a map in the NSP plan.
Parise says the money will be spent on contracts with local neighborhood and non-profit organizations to raze and renovate the properties.