Rep. Johnson: $7 million-plus headed to DeKalb, Gwinnett for Neighborhood Stabilization

September 10, 2010
Press Release

LITHONIA, GA – Rep. Hank Johnson (GA-04) is pleased to announce that more than $7 million in Neighborhood Stabilization grants from the Department of Housing and Urban Development is heading to DeKalb and Gwinnett counties.

DeKalb County will receive $5.2 million and Gwinnett will receive more than $2 million. Rockdale County will be able to apply to the state to receive a share of the funds. Counties can use the money to buy foreclosed homes and renovate them.

“This is a prime example of putting Main Street before Wall Street and helping struggling communities get back on their feet,” said Rep. Johnson. “These are the kinds of investments we need to address the devastating impact of abandoned and foreclosed homes in our community.”

It’s part of $1 billion program nationwide. Altogether Georgia and 15 municipalities will receive $50 million in this round. The state of Georgia, which will take applications from cities and counties not on the list, received $18.7 million. The funds are appropriated from the Wall Street Reform and Consumer Protection Act.

The funding is the third round of the Neighborhood Stabilization Program. In the first round, DeKalb received $18.5 million, Atlanta received $3.9 million, Rockdale $2.7 million and Gwinnett $3 million. Georgia – or any counties and cities in the state – did not receive any Neighborhood Stabilization funds in Round 2.

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