Titus: $43 Million in Additional Neighborhood Stabilization Funds Will Help the Housing Market in Southern Nevada
Henderson, NV – September 13, 2010 – (RealEstateRama) — Congresswoman Dina Titus of Nevada’s Third District applauded the announcement today that Nevada will receive an additional $43 million through the third round of the Neighborhood Stabilization Program. These funds will be given to state and local governments to further their efforts to stabilize the local housing market.
“Southern Nevada has been ground zero for the nation’s housing crisis and families throughout District Three have been hit the hardest,” Titus said. “I was proud to support this additional funding because I am confident that if used quickly and efficiently, these funds will help bring stability and strengthen communities throughout Southern Nevada. I have pushed the Obama Administration to do more to help the areas, such as Southern Nevada, that have been hit the hardest by the housing crisis. There is not a ‘one size fits all’ solution to this crisis, and these funds will allow local governments to respond to the individual needs of the housing market in their communities throughout Southern Nevada. I will continue to fight on behalf of responsible homeowners to help them avoid foreclosure and stay in their homes. It is imperative that Washington does more to help the hardest hit areas like Nevada.”
In total, Nevada will receive $43 million.
Clark County: $20,253,261
Henderson: $3,901,143
Las Vegas: $10,450,622
State of Nevada: $5,000,000
The Neighborhood Stabilization Program provides funds to state and local governments. NSP provides assistance for the redevelopment of abandoned and foreclosed homes and residential properties. NSP establishes financing mechanisms to help qualifying homeowners purchase a foreclosed home and rehabilitates abandoned or foreclosed homes. This round of funding was included as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
# # #
