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Today, Alyssa Katz is being awarded the Harry Chapin Media Award for her piece on housing speculators undermining revitalization efforts. Here's an excerpt:
HUD's new Neighborhood Stabilization Program is Washington's answer to the swaths of decimation created by hundreds of thousands of repossessed, empty homes nationwide. Last year, as part of the emergency legislation authorizing the federal takeover of Fannie Mae and Freddie Mac, Congress devoted $3.92 billion to help more than 300 cities, states, and counties buy up vacant foreclosed homes and restore them as part of thriving neighborhoods. (This year's stimulus adds $2 billion more in grants that HUD will award competitively.) This spring, nonprofit developers and entrepreneurs competed for the first round of grants, administered by local and state governments under HUD's Community Development Block Grant program. The Pittsburgh project is one of 19 grantees sharing $12.3 million in funds from the city of Atlanta; county governments in the region are handing out $58 million more.And you can read the entire piece here. Congratulations, Alyssa!-- The Editors
