City of Springfield, Ohio Welcome to the City of Springfield
Home
Residents
Business
Visitors
Government
Departments
FAQ
Links
Search
Grants
2010 Action Plan
Strategic Plan



New on the Market
615 Damascus
1808 Damascus



Neighborhood Stabilization Programs


Neighborhood Stabilization Program In 2008, Congress created the Neighborhood Stabilization Program with the aim of stabilizing and strengthening neighborhoods and urban areas suffering from increased vacancies and property devaluations as a result of the nation's foreclosure crisis. The program provides targeted emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The program will be administered at the national level by the Department of Housing and Urban Development (HUD).  

Springfield's Programs

The City of Springfield has received an allocation of $8,371,324 for Neighborhood Stabilization Program I and II, and has selected targeted areas based on the percentage of foreclosures within the area, the percentage of homes financed with subprime mortgage related loans in the area, and the likelihood that the area will face a significant rise in the rate of home foreclosures in the future.

Program I

Program II