Project Rebuild is designed to create jobs, stabilize neighborhoods, and reduce vacancy.
Project Rebuild leverages the success of the Neighborhood Stabilization Program (NSP) while making critical changes to scale up, address commercial vacancies, and leverage capacity in the private sector.
Project Rebuild proposes a $15 billion allocation: $10 B for
formula allocation, $5 B for competition.
Project Rebuild: Scaling up Neighborhood Stabilization to Rebuild our Economy.
Project Rebuild will provide funding to purchase, rehabilitate, and/or redevelop foreclosed, abandoned, demolished, or vacant properties. Funding can also establish and operate land banks or demolish blighted structures.
Project Rebuild will support an estimated 191,000 jobs and treat at least 150,000 properties across all 50 states.
HUD will allocate formula funds within 30 days of Congressional enactment of Project Rebuild, complete the competition, and obligate all funds within 150 days of enactment. Grantees will have three years to spend 100 percent of…
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