As part of the federal government economic recovery initiatives, Michigan received resources to provide "disaster relief" for our cities - large and small - and their neighborhoods. Congress created the Neighborhood Stabilization Program to help cities, counties and states deal with community problems that are the result of the mortgage foreclosure crisis in the nation.
Generally, the money must be used to buy, fix up, and resell or demolition of foreclosed and abandoned homes. As long as the funds are used for this redevelopment, MSHDA governs how to use the funds and what specific redevelopment activities to undertake in Michigan.
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