Mesa Waiting On More Neighborhood Stabiliziation Funds

by Las Sendas Homes on November 29, 2011

Mesa Neighborhood StabilizationMesa is waiting on round two of the Federal Neighborhood Stabilization Program to infuse another 4 million dollars into housing revitalization. Once all the hoops are jumped through and all the red tape gets approved the funds should be on the way.

This cash infusion is smaller than the one Mesa received in 2009 when they received 9.7 million. The Federal Neighborhood Stabilization Program was actually started late in the Bush administration to help cope with the real estate melt down particularly in hard hit regions such as areas of Mesa.

Mesa used the first 9.7 million to purchase and rehab homes in the hard hit 85204 zip code. Once the homes where rehabbed they were in turn sold to qualifying buyers. Most of these 39 homes have been resold at prices ranging from $75K up to $144K.

33 apartment were also bought, rehabbed and are now being rented and are run by non-profit organizations.

 

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