Neighborhood Stabilization Programs Help Nearly 10,000 PBC Residents

To date, close to 10,000 residents have received assistance through Palm Beach County’s Neighborhood Stabilization Programs. More than $89 million, funded by the U.S. Dept. of Housing & Urban Development, has been spent on projects to help stabilize neighborhoods that were adversely affected by the foreclosure and economic crises.

Here’s a snapshot of the county’s NSP activities:

• 279 abandoned or foreclosed properties have been purchased and rehabilitated or redeveloped for households with very low, low and moderate incomes through NSP mortgage assistance and by nonprofit community development organizations for resale or lease.

• 56 unsafe structures have been demolished in the Glades area through a collaboration with city officials and the Palm Beach County Sheriff’s Office.

• 288 new energy-efficient, affordable rental housing units for low-income seniors and families have been constructed through partnerships with private developers, leveraging more than $32.2 million in additional investment dollars.

• 8,200 homeless people have received help through the county’s first homeless resource center, built with $7.5 million in NSP funds.

These projects have resulted in reinvestment in homeownership, restoration of vacant structures to productive use, a turnaround in home values, elimination of blight, an overall increase in neighborhood pride, a greater supply of affordable rental communities and increased services to help the homeless.