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Neighborhood Conservation Initiative Final Application Due January 15, 2009.

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Presentation on theme: "Neighborhood Conservation Initiative Final Application Due January 15, 2009."— Presentation transcript:

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, (Cumberland) $50,000 (County)


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