Info sessions to inform developers, CDCs about neighborhood stabilization funds

Nine Detroit communities have been targeted for $47 million in neighborhood stabilization funds the the City of Detroit Planning and Development Department secured from the U.S. Department of Housing and Urban Development.

The areas were chosen for an abundance of vacant, abandoned, foreclosed buildings. Four information sessions will explain to the for profit and nonprofit development community how to access these funds for community redevelopment activities, like housing rehab, as well as financing opportunities.

Each session will cover:

• An overview
  of Detroit’s Neighborhood Stabilization Program;

• Information
  on Detroit’s nine targeted ares: Southwest Detroit (which takes in Midtown and Woodbridge in its borders), Central Woodward (which takes in much of New Center), Brightmoor, Grand River/Greenfield, East English Village, Osborn, North Central and Kettering;

• An explanation of the competitive selection process to receive NSP funding; and

• NSP
  financing mechanisms and opportunities, including gap
  funding for “ready to proceed” projects.

The sessions will be held 9:30 to 11:30 a.m. and 1:30 to 3:30 p.m. Feb. 18-19
from  at
the Northwest Activities Center, 18100 Meyers Rd at Curtis, Detroit. RSVPs are available on a
first-come, first-served basis and must be confirmed in advance. Call 313 224-3461.

Source: Sylvia Crawford, City of Detroit
Writer: Kelli B. Kavanaugh