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Division of Housing and Community Development

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Community Development Block Grant Program

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Neighborhood Stabilization Program 2

Proposed Neighborhood Stabilization Program 2 Plan

The American Recovery and Reinvestment Act of 2009 (Recovery Act) was signed into law by President Obama on February 17th, 2009. Under the Recovery Act, the Neighborhood Stabilization Program 2 is allocated $2,000,000,000 in funding resources to be invested in mitigating the impact of foreclosures through the purchase and rehabilitation of foreclosed, vacant properties in order to create more affordable housing and renew neighborhoods devastated by the economic crisis.

The State of Florida Department of Community Affairs, in partnership with the Florida Housing Finance Corporation, proposes to competitively apply for $300,000,000 under the Recovery Act. The Department of Community Affairs will utilize an allocation of $50,000.000 to expand its efforts of the Neighborhood Stabilization Program 1 plan.

Participating Local Governments

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