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June 15, 2009
Pat Kuehn, APR
Community Information Specialist

County launches $5.2 million Neighborhood Stabilization Program

Volusia County’s Community Assistance Division has launched its federally funded Neighborhood Stabilization Program, which is designed to improve neighborhoods that have deteriorated due to homes that have been foreclosed upon and abandoned.

The Volusia County Council approved the program’s implementation guidelines at its meeting June 4.

According to Community Assistance Director Edward Jasper, the county received $5.2 million from the U.S. Department of Housing and Urban Development. The funds will be used to purchase, rehabilitate and resell foreclosed, abandoned bank-owned properties that might otherwise become sources of blight in their communities. The initial focus will be on properties in DeLand, Edgewater, Holly Hill and Orange City and bordering unincorporated areas.

Volusia County's plan allots 60 percent of the money for purchase, rehabilitation and resale of foreclosed and abandoned homes. Qualified first-time home-buyers can make no more than 120 percent of the area median income. Down payment and closing cost assistance will be available through the program. Another 25 percent of the program’s funds will be directed toward rental assistance for families that make less than 50 percent of the area's median income.

The program abides by the Fair Housing Act and other related laws, which prohibit discrimination in the sale, rental and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, handicap or familial status.

To refer a property for consideration, please contact Paula Szabo at pszabo@co.volusia.fl.us or (386) 736-5955, ext. 2308. For more information about the county’s Neighborhood Stabilization Program, click here.

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