TAVARES, FL – July 2, 2009 – (RealEstateRama) — The Lake County Department of Community Services is preparing a grant application, which is due by July 17, to the U.S. Department of Housing and Urban Development (HUD) to implement Phase 2 of Lake County’s Neighborhood Stabilization Program (NSP2).
The public can submit input pertaining to the proposed NSP2 plan. Submit comments by Monday, July 13, to Bill Gearing, Lake County’s Community Enhancement Coordinator, at (352) 742-6515 or e-mail wgearing (at) lakecountyfl (dot) gov. The Lake County Board of County Commissioners will conduct a public hearing to review the NSP2 application on Tuesday, July 7, at 9 a.m. in the Commission Chambers on the second floor of the Lake County Administration Building, located at 315 W. Main St. in Tavares.
After reviewing foreclosure and vacancy data provided by HUD, a committee selected seven Census Tracks (CT) where the need is the greatest in Lake County. The seven target areas are: CT 302.01 City of Eustis, CT 304.02 City of Fruitland Park, CT 304.04 City of Lady Lake, CT 305.01 City of Leesburg, CT 305.02 City of Leesburg, CT 309.11 City of Mount Dora and CT 313.05 City of Clermont.
The primary activity which will be performed with the funding is the acquisition and rehabilitation of foreclosed or abandoned properties for resale to income-eligible County residents. Lake County’s consortium partners of NSP2 include City of Eustis Housing Authority, Lake-Sumter FL Habitat for Humanity, Homes in Partnership, City of Leesburg Housing Authority, LifeStream, New Beginnings, Affordable Housing by Lake and Guardian CRM/Langton Associates Management Consultant. The preliminary budget to accomplish the proposed activities is as follows:
• Average cost of acquisition and rehab of each house, $122,000 x 100 houses = $12,200,000
• Administrative overhead and expenses to implement over a three-year period = $1,300,000
• Total cost of program = $13,500,000
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Media contact:
Christopher Patton
Public Information Coordinator
Office: (352) 343-9609; Cell: (352) 455-0445
cpatton (at) lakecountyfl (dot) gov
