Today I received a press release from Senator Burr's office announcing that North Carolina had received $52,303,004 from the federal Department of Housing and Urban Development's Neighborhood Stabilization Program. According to the release "North Carolina may use this grant to assist individuals in purchasing foreclosed homes, acquiring and rehabilitating abandoned homes, establishing land banks for foreclosed homes, demolition of blighted properties, or redevelopment of vacant or demolished structures. All NSP funds are required to benefit individuals or families at or below 120 percent of area median income (AMI) and at least 25 percent must be targeted at those living below 50 percent of AMI. Funds awarded under this grant must be used within 18 months."
You may recall that Winston-Salem officials recently met with our local delegates to the statehouse because they want to be able to use eminent domain to buy blighted properties and refurbish them to provide affordable housing, and they are asking our delegates to push for laws that will allow the city to do just that. Now that the state has this grant money in hand I'm wondering if that push for a new law will gain even more traction?