Friday, Nov. 14, 2008

Virginia Seeks Feedback on Neighborhood Stabilization Program Design
State Eligible to Receive $38.7 Million in Federal Foreclosure Relief Funds; Input Session Planned

The Virginia Department of Housing and Community Development is requesting public input on its proposed program design for the Neighborhood Stabilization Program (NSP).  The NSP was authorized as part of the Housing and Economic Recovery Act of 2008, with a goal of assisting in the redevelopment of abandoned and foreclosed homes and residential properties. The State is eligible to receive $38.7 million in NSP funds, which will be treated as an extension of the Community Development Block Grant (CDBG) program and administered by the Virginia Department of Housing and Community Development (DHCD).  The State’s use of the funds will be guided by a substantial amendment to its Consolidated Plan – Annual Action Plan.  This amendment, which constitutes the program design for Virginia’s use of NSP funds, must be submitted to the United States Department of Housing and Urban Development (HUD) by December 1, 2008. 

The draft amendment is available at the Virginia DHCD website.  Comments will be received until noon on November 25, 2008; comments may be directed to Chris.Thompson@dhcd.virginia.gov or to Chris Thompson, Virginia Department of Housing and Community Development, 501 North Second Street, Richmond, VA, 23219.

On Thursday, November 20 at 2 PM at the VHDA Virginia Housing Center (4224 Cox Road, Glen Allen, Virginia), DHCD will host an input session to discuss the State’s NSP and receive comments on the implementation plan for the program.  If you plan to attend the event, please RSVP to Chris Thompson at Chris.Thompson@dhcd.virginia.gov or by calling 804-371-7061.