Tagged: Neighborhood Stabilization Program

This week WYSO has reported on how hard the city of Dayton was hit when the mortgage crisis and great recession began more than five years ago. The resulting federal funds made available to cities like Dayton to stabilize neighborhoods, and how those funds are running out. In this week's Politics Ohio we continue our look at neighborhood stabilization; we spoke with Dayton City commissioner Matt Joseph about what other steps the city is taking to revitalize neighborhoods.

Several legislative acts since 2008, such as the Housing and Economic Recovery Act (HERA), and the American Recovery and Reinvestment Act (ARRA) provided billions of dollars for Neighborhood Stabilization Programs across the country. From the HERA program alone, the city of Dayton, Kettering, and Fairborn together received 29.3 million dollars; of that, 19 million went to Dayton, and they’ve used about 3.5 million to purchase and rehab foreclosed homes.