Neighborhood Stablizing Program for Wayne Township?

Fort Wayne, Indiana gets $7 million to stave off the foreclosure epidemic hitting its community. $7 million is a whole lot more than the meager $5 thousands of CDBG funds allocted by the city for a porch. Yeah, a porch:



On September 27, 2008,in a report released by HUD, Fort Wayne has a 9.2 % foreclosure rate while the overall foreclosure rate for all of Indiana is 6.7%. The federal government is directing funds to cities such as Fort Wayne with high foreclosure rates. These funds are for emergency assistance to redevelop abandoned and foreclosed homes.


The State of Indiana is to come up with an action plan within 90 days under the program called Neighborhood Stabilization Program. This program will allow homes to be sold below the appraised values to low. income families. It did not say high income. A sunset date has been set for the spending of these funds within 18 months.

Mantra from heaven for Wayne Township,in starting a rehab program for its clients. If the citizens demand that the Mayor do more for the residents of Wayne Township than hire a few folks and call it a diversity program. Does Fort Wayne have the courage or the balls to do something for low income families? Get on the stick and improve the community.



updated on September 29, 2008: This is part of the Housing and Economic Recovery Act of 2008 .