Filling in Foreclosures
CHISPA awarded $5 million to fix up foreclosed homes
Wednesday, January 20, 2010
CHISPA has received a $5 million federal grant to buy and renovate about 55 foreclosed homes in the cities of Salinas, Gonzales, Soledad, Greenfield, King City and Hollister, the affordable housing builder announced today.
The funding is part of a $137 million award under the Department of Housing and Urban Development's Neighborhood Stabilization Program to Latino-serving organizations.
"We have been saddened by the number of foreclosures that have occurred in this area," said CHISPA CEO Alfred Diaz-Infante, in a prepared statement. "We applied for this NSP2 funding with the goal of purchasing and renovating some foreclosed homes and selling them to low-income individuals and families or to organizations that provide housing services to low and moderate-income people."