New Castle County has received $7 million from the U.S. Department of Housing and Urban Development to purchase and rehab homes in struggling communities and then make them available at affordable rates to potential buyers or renters.
Called the Neighborhood Stabilization Program, the county will purchase homes for immediate resale or place them in a land bank for a short period of time for transition to non-profit partners. Those agencies will then resell, rehabilitate or redevelop the residential properties.
Called the Neighborhood Stabilization Program, the county will purchase homes for immediate resale or place them in a land bank for a short period of time for transition to non-profit partners. Those agencies will then resell, rehabilitate or redevelop the residential properties.
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