The United States Department of Housing and Urban Development (HUD) Neighborhood Stabilization Program (NSP) will provide Missouri with a total of $13,110,602 in federal grant funding to help communities that have suffered due to the decline in the housing market. According to HUD, the NSP assists states and local governments in addressing the effects of abandoned and foreclosed housing.
Specifically, the following entities will receive funding to help rehabilitate and redevelop property as a way to create affordable living opportunities within the community:
· $1,823,887 – City of Kansas City
· $3,472,954 – City of St. Louis
· $2,813,761 – St. Louis County
· $5,000,000 – State of Missouri
Sen. McCaskill says she believes that federal grants and loans are a positive alternative to earmarks, which in the past have frequently had too little accountability.
“Competitive merit and need based federal grants and low-interest government loans bring federal assistance to Missouri in an honest and fiscally responsible manner.”