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Neighborhood Conservation Initiative

Neighborhood Conservation Initiative. Final Application Due January 15, 2009. Application Details. Program has been funded to State of Maryland by federal government in response to foreclosures Over $16.9 million available statewide to governments and public housing authorities

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Neighborhood Conservation Initiative

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  1. Neighborhood Conservation Initiative Final Application Due January 15, 2009

  2. Application Details • Program has been funded to State of Maryland by federal government in response to foreclosures • Over $16.9 million available statewide to governments and public housing authorities • Local Application Partners • City of Cumberland • Allegany County • HRDC

  3. Allegany County Foreclosures • Heaviest rates of foreclosure include: • Neighborhoods surrounding the central core of Cumberland • LaVale • Westernport • Frostburg (to a lesser extent) Source: MD Department of Housing and Community Development

  4. Targeted Cumberland Neighborhoods • Boundaries Include: • Rolling Mill • Chapel Hill • Baltimore Ave • Goethe Street • Decatur Street

  5. Project List • Provide 3 new affordable homeownership opportunities for families with up to 120% area median income • Create 5 new affordable lease to own opportunities for households at 50% of area median income • Provide pre-purchase housing counseling for homeownership and lease-to-own programs • Acquisition, rehabilitation or blight removal, and reuse of foreclosed and/or abandoned properties • Community infrastructure – HRDC parking –VA Ave • Westernport Targeted Site Redevelopment • Total request = $550,000.00 (Cumberland) $50,000 (County)

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