The Neighborhood Stabilization Program seeks to address home foreclosures and residential property abandonment. Joining forces with the NSP will offer properties for the artists that qualify to work out of their homes and implement new strategies for helping artists achieve savings on housing. Providing an artist living/work space will redevelop the blighted area in the western community on Lake and Lucerne.
The Lake Worth CRA Consortium applied for and received $23,237,500 in grant funding from the U.S. Department of Housing and Urban Redevelopment (HUD) on January 14, 2010. This funding is part of the American Recovery and Reinvestment Act of 2009, and is better known as the Neighborhood Stabilization Program (NSP). Funding will be primarily used to purchase, rehabilitate and demolish foreclosed homes within the City of Lake Worth. Some funding will also be available to provide homebuyer counseling, "green" maintenance, financing and subsidy programs for working class individuals. The Consortium consists of 20 community based organizations and local companies.
The CRA has partnered with two major organizations to provide housing to qualified residents who desire to be a part of the Lake Worth community. The partners are Adopt-A-Family of the Palm Beaches and Habitat for Humanity.
For more detailed information regarding the NSP-2 program, please visit the Lake Worth NSP2 Consortium's new website, lakeworthnsp.org.
If you are an artist or individual interested in purchasing a home through the Lake Worth CRA's Neighborhood Stabilization Program, click here to download a home owner interest form.