Progress...

They key word today is progress. Last Friday, NDHC put out a Request for Proposals (RFP) for a General Contractor, and the response has been solid. Yesterday was the construction Pre -Bid meeting. We held the pre-bid meeting in our brand new Idea Center at Jackson Woods Apartments. The response from interested contractors/builders has been solid, and overall things are moving in the right direction. Tony Kleyer, an architect with Louis & Henry Group, will be assisting New Directions in this project.

The Neighborhood Stabilization Program

Neighborhood Stabilization Program (NSP) funding is intended to stabilize neighborhoods. To do this, State and local governments can: Buy abandoned or foreclosed homes; Redevelop demolished or vacant properties; Demolish or rehabilitate abandoned, foreclosed or blighted properties; Offer down payment and closing cost assistance to low- to moderate-income homebuyers; reuse properties for affordable rental housing. In addition, these grantees can also create land banks. The Louisville Metro Neighborhood Stabilization Program will allocate approximately $2-4 million toward the acquisition and redevolopment of vacant properties to be sold for private homeownership or leased to low-income households. Louisville Metro selected River City Housing, Rebound Inc, and New Directions Housing (NDHC) to redevelop vacant properties to be sold for homeownership in the target areas. New Directions Housing Corporation has chosen to acquire and redevelop vacant residential properties in the Shelby Park Neighborhood. Vacant properties acquired and improved using NSP funding will proceed expeditiously to construction. Anyone interested in the purchase of an NSP-assisted home, must receive at least 8 hours of HUD-approved housing counseling. Properties can be sold to families that earn up to 120% Area Median Income ($74,150 for a family of four in Louisville).