Under the Federal Housing and Economic Recovery Act of 2008, the City of Fontana will receive $5,953,309 in Community Development Block Grant (CDBG) funds to establish a Neighborhood Stabilization Program (NSP). U.S. Department of Housing and Urban Development (HUD) determined the City’s NSP allocation based on:
Fontana’s percentage of home foreclosures
Percentage of homes financed by subprime loans
Likelihood of a significant rise in the rate of home foreclosures
How Funds Are Used
The City may use NSP funds for the acquisition, rehabilitation, and/or redevelopment of abandoned or foreclosed residential properties and the subsequent sale or rental of such properties to households with incomes up to 120% of the area median income. At least 25% of NSP funds must help households with incomes below 50% of the area median income.
Please contact Valerie Gonzales at (909) 350-6625 with any questions regarding this program.