February 25, 2010
WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan and Nevada Senator Harry Reid today announced up to $1.3 million in emergency technical assistance to help reverse the effects of foreclosure and abandonment in certain neighborhoods in the City of Las Vegas and Clark County. The unprecedented aid announced today is funded through the American Recovery and Reinvestment Act and is part of the Obama Administration’s plan to help communities hardest hit by the downturn in the housing market.
“The foreclosure crisis is especially brutal in places like the City of Las Vegas and Clark County, requiring that we redouble our efforts to stabilize neighborhoods there,” said Donovan. “This first-of-its-kind technical assistance will help jump start stabilization programs in Las Vegas and Clark County and makes good on President Obama’s pledge to leave no stone unturned in helping those parts of our country experiencing the greatest recovery challenges.”
“I thank Secretary Donovan for responding to my call to provide more help for Nevada homeowners,” Reid said. “This funding will go a long way toward helping the City of Las Vegas and Clark County speed up the process of putting Neighborhood Stabilization Program funds to work for southern Nevadans.”
In addition to the funds announced today, HUD has also dispatched teams of technical experts, as well as additional staff, to address the foreclosure crisis and help retool neighborhood stabilization programs in the City of Las Vegas and Clark County, areas that have struggled with difficult market conditions as well as a shortage of trained staff of their own.