Comments Sought on NSP3 Substantial Amendment Draft‏

You are invited to provide comments on the city's
SUBSTANTIAL AMENDMENT TO THE 2010-2011 ANNUAL ACTION PLAN

The Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) authorized $970 million in federal funding to assist in the redevelopment of abandoned and foreclosed homes across the nation. The city of Phoenix was allocated $16 million of these funds, under the Act’s Neighborhood Stabilization Program 3 (NSP3). The city has prepared a draft plan that details the proposed use of these funds, called the Substantial Amendment to the 2010-2011 Annual Action Plan, and seeks comments on the plan. The plan can be accessed at:

http://www.phoenix.gov/residents/stabilization/nsp/funding/index.html

A copy of the draft may also be reviewed at the Phoenix Neighborhood Services Department, 200 W. Washington St., 4th floor, Phoenix, AZ 85003.

The draft plan proposes that NSP3 funds be used to continue some of the programs implemented under NSP1 and NSP2, which address abandoned, foreclosed properties through acquisition, rehabilitation, demolition, redevelopment and financial incentives. Funds must serve households at or below 120 percent of area median income (AMI)

You are invited to submit your comments on the proposed strategies from January 26 to February 12, 2011 by calling our hotline at (602) 256-3302 or emailing nsd@phoenix.gov, (if emailing, please include the following in the subject line: ATTN: NSP3 Comment).

Source: City of Phoenix