NEWS RELEASE

April 9, 2009

The Iowa Department of Economic Development notified the City of Jefferson that it was awarded $548,015 for the Neighborhood Stabilization Program (NSP).

The NSP is designed to stabilize neighborhoods and reduce the decline in value of neighborhood houses by providing funds to purchase and rehabilitate residential properties, demolish blighted homes and the redevelopment of vacant homes. The City has identified seven properties – four for rehabilitation and resale and three for demolition. Rehabilitated properties will be placed back on the market while vacant lots may be retained as green space or given to a non-profit agency for the construction of a new home.

The program funds are the result of the city council’s action to act on Region XII’s recommendation to submit an application for the funds. Although the program funding does not require a cash match, the city will provide in-kind services in the form of manpower and equipment.