The Town of Davie Receives Additional Funds to Purchase Foreclosures

The Town of Davie successfully obligated $2,316,292 through the State of Florida first round of Neighborhood Stabilization Program (NSP) funding. To date these funds have been used to purchase twelve foreclosed properties within the Town. Five homebuyers received direct assistance and seven properties were purchased through the Town’s NSP developer for rental and resale. These properties are currently under rehabilitation and the Town’s NSP Developer, Inner Urban Asset Management, continues to acquire and rehabilitate additional properties to resell to the Town’s pool of pre-approved homebuyers.

The Town of Davie has been allocated an additional $1,171,166 through the State’s third round of NSP program under the Dodd-Frank Wall Street Reform and Consumer Protection Act through the U.S. Department of Housing and Urban Development. The Town will continue to utilize these funds to purchase foreclosed homes at a discount, rehabilitate them, and resell them to qualified homebuyers. The Town continues to combat this national epidemic with proactive measures such as foreclosure prevention education, financial assistance, and homebuyer counseling at the Town’s Neighborhood Service Center. The NSP program has played a key role in the Town’s fight against rising foreclosures and falling home values.

For more information, contact the Town of Davie Housing and Community Development Department at 954-797-1173.

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