Floyd County (The Tribune)
S. Ellen Jones neighborhood selected for $6.7M grant
Federal funds will be used to rehab 40 foreclosed homes
New Albany has been awarded $6.7 million in federal funds to rehabilitate and resale 40 houses currently in foreclosure in the S. Ellen Jones neighborhood.
The announcement was made Thursday at a board of directors meeting for the Indiana Housing and Community Development Authority, or IHCDA. The state agency oversees the allotment of federal Neighborhood Stabilization Program, or NSP, dollars.
New Albany first applied in March — one of 83 Indiana organizations and communities that sought a share of the initial $84 million federal stipend — but was turned down. But recently, more federal money was allocated to the state and New Albany, Elwood and Goshen received funding. Additionally, there will be a second wave of NSP money available later this year.
New Albany’s application — prepared by Mayor Doug England’s administration — has been awarded in full. State Rep. Ed Clere continued to push IHCDA to accept the New Albany proposal despite the initial setback.
Clere lives just a few blocks from the SEJ neighborhood and said he’s fully aware of the vacancy and foreclosure problems its facing.
“I want to say that I commend the city, the mayor and his administration for making the original application and continuing to advocate for the funds,” Clere said. “As a realtor, I’ve worked with individuals and families in foreclosure and I’ve dealt with the aftermath of foreclosure in that neighborhood and seen its effect on the neighborhood and the community as a whole.”
Ted Fulmore, president of the S. Ellen Jones Neighborhood Association, described the grant as being the best news the neighborhood has ever received.
“This kind of investment — to help remedy some of those issues and get those homes into the hands of homeowners — is just amazing,” Fulmore said.
The grant is worth about half of New Albany’s annual city budget. Low-to-moderate income families will get first priority after the homes are rehabbed.
Improving the SEJ neighborhood with its proximity to downtown New Albany strengthens the revitalization push the city is experiencing, Fulmore said.
“I really think New Albany is on a roll. The downtown has changed so much in the past few years, so many amenities have been added,” he said. “It makes perfect sense for these neighborhoods to now take off and benefit from the addition of those amenities.”
Deputy Mayor Carl Malysz said the grant is the largest one the city has ever received toward private housing.
“The bottom line is despite the fact that it took quite awhile to get approval, we are just absolutely tickled that we received this assistance. It’s really huge for that neighborhood,” he said.
- Floyd County (The Tribune)
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THE TRIBUNE BRIEFS: March 10, 2010
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THE TRIBUNE BRIEFS: March 10, 2010
