WASHINGTON, DC – U.S. Senator Kit Bond today announced more than $43 million in federal funds to help Missouri families and neighborhoods hit hard by the foreclosure crisis.

 

 

          “These funds will help some Missouri families and neighborhoods hurt by the housing crisis make a fresh start this New Year,” said Bond, the lead Republican of the Senate Appropriations Committee that funds the Department of Housing and Urban Development.

 

 

          Missouri will receive $42,664,187 as part of Department of Housing and Urban Development (HUD)’s Neighborhood Stabilization Program (NSP).  These emergency assistance funds will help the State of Missouri acquire and redevelop foreclosed properties.

 

 

          Bond stressed that foreclosure doesn’t only hurt families, it also hurts communities.  When one or two houses are foreclosed on in a community, the entire community is affected by lower property values, vacant homes that attract vandalism, schools and businesses that lose customers and local governments that lose tax revenue.  Bond emphasized that programs like HUD’s NSP are critical to supporting these struggling neighborhoods and to stem the foreclosure crisis.

 

          Missouri will also receive more than $900,000 in federal funds from HUD as part of the Housing Choice Voucher - Family Self Sufficiency (FSS) program.  Public Housing Authorities across the state will use the FSS funds to help Missouri public and private partners develop strategies to allow very low-income families to achieve economic independence and self-sufficiency.

 

          Bond was one of the first in Congress to act to address the current housing crisis.  Bond introduced legislation, the Security Against Foreclosures and Education Act, to help keep families struggling with the subprime mortgage crisis stay in their homes. Bond has also led the effort to secure federal dollars for foreclosure counseling to help families stay in their homes.

 

 

                   

 

 

 

MISSOURI IS RECEIVING MORE THAN $43 MILLION FROM HUD

 

 

 

As part of HUD’s NSP the State of Missouri will receive $42,664,187

 

 

 

Also, the following Missouri PHA’s will receive federal funds as part of HUD’s FSS program:

 

 

 

§       Franklin County PHA - $42,565

 

 

§       Housing Authority of Kansas City - $157,144

 

 

§       Housing Authority of St. Louis County - $100,901

 

 

§       Housing Authority of the City of Columbia - $49,389

 

 

§       Housing Authority of the City of Liberty - $43,765

 

 

§       Housing Authority of the City of Springfield - $26,296

 

 

§       Jasper County PHA - $27,636

 

 

§       North East Community Action Corporation - $109,689

 

 

§       Phelps County PHA - $53,458

 

 

§       Ripley County Public Housing Agency - $33,540

 

 

§       Saint Francois County PUHA - $30,909

 

 

§       St. Clair County PHA - $122,448

 

 

§       St. Louis Housing Authority - $60,581

 

 

§       Housing Authority of the City of Saint Charles - $46,589