Glendale gets $6.1 million to revamp foreclosed homes - East Valley Tribune: West Valley

Glendale gets $6.1 million to revamp foreclosed homes

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Posted: Friday, December 10, 2010 6:15 am

Glendale has received $6.1 million in stimulus funds which will be used to rehabilitate the community, the city announced this week. The money will go toward the Neighborhood Stabilization Program, a one-time, federally-funded program designed to mitigate the impact of foreclosed properties on the surrounding community.

The renovation process is nearing completion on several homes in Glendale. The goal of the program is to get low- to moderate-income families who are first-time homebuyers into these formerly abandoned properties and revitalize neighborhoods.

The city’s partners in this endeavor are Habitat for Humanity and Chicanos Por La Causa, who assist in facilitating the qualification and purchase process. To qualify to purchase these homes, applicants must not exceed income requirements that are 120 percent below median, provide an earnest deposit of $1,000 and also take a HUD-approved eight-hour class on home ownership.

More than $1.2 million was obligated for fiscal year 2009 to Habitat for Humanity Central Arizona to purchase and renovate foreclosed homes; another $1.2 million went to Chicanos Por la Causa for the same purposes; an additional $800,000 will be used by Habitat for Humanity in partnership with the city’s community revitalization division to renovate acquired foreclosed properties.

In addition, $2.9 million has been awarded to two projects to provide affordable rental housing for eligible seniors. Those projects are The National Farm Workers Service Center,  a 49-unit, senior-only development on a foreclosed and vacant parcel at 5614 N. 67th Ave., and Native American Connections, a two-story, 60 unit, seniors-only rental complex on a foreclosed and vacant parcel at 59th Avenue and Laurie Lane.

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