$47.1M neighborhood stabilization plan presented to Council

One month ago, Housing and Urban Development awarded the city of Detroit $47.1 million to stabilize housing in light of the current foreclosure crisis.

Before spending it, the city must develop a plan that is approved by Detroit City Council and then HUD. Last week, Planning and Development took the first step and presented the plan to Council’s Economic Development Committee.

The plan focuses on three things: reversal of the decline of neighborhood housing values; significant elimination of blighted and abandoned structures; and stimulation of investment in and around targeted neighborhoods.

The plan can be downloaded at PDD’s site; public comment is welcomed until November 20 at 313-224-6380 or NSP@detroitmi.gov. On Nov. 21, it will go to the full Council followed by submittal to HUD on Dec. 1.

Read more about the grant, the process and guidelines here.

Source: Sylvia Crawford, PDD
Writer: Kelli B. Kavanaugh