Distressed Neighborhoods Get Home Rehab Help

JACKSONVILLE, FL -- Foreclosed homes that plague some local neighborhoods are in various stages of being put back on the market in a push to offer more affordable housing.

The Neighborhood Stabilization Programs is pumping $26 million into Jacksonville, to rehab foreclosed proprieties and help neighborhoods get back on their feet.

The program locally is targeting foreclosures in the zip codes 32206, 32208, 32209, 32244 and 32254.

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"It's a win-win for everybody. It gives my company more work. I was working two days a week when this started, now I'm back to five," said Donna Reed Mountain with Kendale Land Development.

The program assists qualified developers or individuals purchase distressed properties and provides financing for repairs that need to be done on a home.

Once the home is finished, the property is put back on the market for home buyers who meet certain income requirements.

Amy Rankin handles marketing NSP program in Jacksonville and says it will make a difference.

"Working families who might not have had access to a home now can get an affordable home in a quality neighborhood," said Rankin.

Byron Colley is in the construction business and says the federal dollars are helping people in the trades. "Now we have subcontractors that are working, they are buying from their suppliers. So this money now is just moving right on through the community."

Currently, 51 homes are in various stages of construction or being purchased under the federal program administered locally through the city's Housing and Neighborhoods Department.

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