Neighborhood Stabilization Program

A few of us in Faulkton and at the Rural Learning Center have been working on finding a way for rural communities, and Faulkton in particular, to take advantage of a new program called the Neighborhood Stabilization Program. The South Dakota Housing Development Authority will manage and direct the funds (SD received $19.6 million from the federal government).

The eligible program activities in South Dakota include:
* Purchase and rehabilitation of homes and residential properties that have been abandoned or foreclosed upon, in order to sell, rent or redevelop such homes and properties.
*Financing Mechanisms for Homeownership Assistance
*Demolish Blighted Structures
*Redevelop Demolished or Vacant Property

If you’re interested in learning more at the program, check out the plan South Dakota submitted to Housing and Urban Development here. If you’d like to join a group who’s talking about how Faulkton might use these funds, please give Lindsey a call at 605-772-5153. We’d love to have you join us!