For Immediate Release Contact: John L. Gray
March 18, 2009 City Manager
336-248-3910
Lexington, NC – The City of Lexington was awarded $2.1 million from the Neighborhood Stabilization Program, which is a new U.S. Department of Housing and Urban Development program that provides funding to hard hit areas trying to respond to the effects of high numbers of foreclosures. The funding is administered by the N.C. Department of Commerce Division of Community Assistance.
The City’s application was based upon the City’s adopted Homeownership Strategic Plan developed by the City Council appointed Homeownership Committee chaired by John Shoemaker. It took a tremendous amount of work to prepare this complex application, according to City Manager John Gray and it took a joint effort. The City’s housing partners include Lexington Housing Community Development Corporation, Habitat for Humanity, Davidson County Community Action and Lexington Housing Authority who all played a role in the grant application. Approved grant activities include but are not limited to the purchase of foreclosed or abandoned homes and to rehabilitate, resell or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes.
The competition for this grant was particularly intense due to the fact that applications were accepted from large cities throughout the State. Lexington was the next smallest city to receive the grant after Henderson . Raleigh , Charlotte , Greensboro , Winston-Salem , High Point and Durham also received grants.
Mayor John Walser expressed appreciation for the support of Representative Hugh Holliman in obtaining the grant and looks forward to seeing this money used to aid in stabilizing neighborhoods in Lexington .
