New Castle County has received from the Federal Home Loan Bank of Pittsburgh a $500,000 grant for buy and rehab blighted homes in the Route 9 Corridor.
The grant funds will support the New Castle County Department of Community Services’ “Route 9 Corridor Neighborhood Stabilization Project.”
The money will fund the acquisition and rehabilitation of seven vacant and foreclosed homes in communities along the Route 9 corridor in New Castle County to create affordable housing opportunities, increase home ownership and promote community reinvestment.
“We have been working hard to restore the Route 9 Corridor – arguably one of the most blighted areas in New Castle County,” County Executive Tom Gordon said. “This significant amount of money will help tremendously in that regard, and we are so grateful for the Federal Home Loan Bank of Pittsburgh’s recognition of our efforts.”
The renovated homes will be marketed to homeowners at or below 80 percent of Area Median Income figure. For a family of four that figure is a maximum of $63,050. The homes will be renovated with an energy efficiency focus to reduce the maintenance costs to the homeowners, said Carrie Sawyer Casey, manager of the NCC Department of Community Services Division of Community Development & Housing. Two of the properties will be made accessible to individuals or families with special needs.
The funding is part of a larger scale program New Castle County has developed through Neighborhood Stabilization Program funding from the U.S. Department of Housing and Urban Development, she said. Since 2010, New Castle County has purchased more than 80 properties in New Castle County, with 54 of those properties sold.
NSP is one-time funding, and the additional funding through the Federal Home Loan Bank of Pittsburgh’s Affordable Housing Program, New Castle County will continue its stabilization efforts, said Alan J. Matas, general manager, Department of Community Services. New Castle County received the maximum grant amount in its first time applying for this funding
