|When:||Tuesday, February 15|
|Where:||City Hall, Room 317|
350 S 5th St
Foreclosure Recovery Coordinator
NOTICE: Neighborhood Stabilization Program 3 (NSP3)
Minneapolis will submit applications for $600,000 to Minnesota Housing Finance Agency and for $2,671,275 to HUD in Neighborhood Stabilization Program 3 (NSP3) funds under HERA, as amended, and the Recovery Act, as amended, and an additional allocation of funds provided by the Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act). The approximately $3.3 million will be primarily used to rehabilitate foreclosed and vacant properties for single family home ownership or affordable rental (2- 4 unit buildings) in neighborhoods highly impacted by foreclosure. For more information, visit the Neighborhood Stabilization Program 3 (NSP3) web page at: http://www.ci.minneapolis.mn.us/foreclosure/NSP_3.asp
The public comment period for Minneapolis NSP3 is February 1 – February 15, 2011.
The Community Development Committee of the Minneapolis City Council will conduct a public hearing on Tuesday, February 15, 2011, at 1:30 p.m. in Room 317, City Hall, 350 S 5th St, to receive public comments on an amendment to the 2010 Department of Housing & Urban Development Consolidated Plan relating to an application for Neighborhood Stabilization Program 3 funding.
Additionally, a Public Information Meeting will be held Wednesday, February 9, 2011, from 5:30 p.m. – 7:00 p.m. at the Glover-Sudduth Center, 2100 Plymouth Avenue North, Minneapolis.
For sign language interpreting services or other ADA, Title II access accommodations, call (612) 673-2626 TTY or (612) 673-3220.
PLEASE NOTE: YOU MAY WISH TO DISREGARD THIS MESSAGE IF YOUR NEIGHBORHOOD IS NOT HIGHLY IMPACTED BY FORECLOSURE. HUD requires funds to be targeted strategically in areas of greatest need as determined by HUD. Jordan, Hawthorne, Folwell and potentially Bryant, Central, Phillips East, Midtown Phillips, Phillips West, Ventura Village, Audubon Park, Holland, Logan Park and Windom Park have been identified as areas of greatest need for NSP3 funds. Target areas must meet HUD NSP3 criteria and have eligible vacant and foreclosed properties available to meet the HUD requirement for impact in the area.
Approximately $30 million in NSP1 and NSP2 funds are being targeted more broadly in all Minneapolis neighborhoods highly impacted by foreclosures. Please see the NSP web page for more information: http://www.ci.minneapolis.mn.us/foreclosure/nsp.asp
Cherie Shoquist, Foreclosure Recovery Coordinator
City of Minneapolis Community Planning & Economic Development
105 Fifth Avenue South, Suite 200
Minneapolis, MN 55401
Phone: (612) 673-5078
Fax: (612) 673-5212