Title
A RESOLUTION CONCERNING HOUSING AND COMMUNITY DEVELOPMENT NEIGHBORHOOD STABILIZATION PROGRAM ROUND 3 for the purpose of amending the Prince George's County Neighborhood Stabilization Program Round 3 ("NSP3"): Substantial Amendment to the Annual Action Plan FY 2011 to restructure, reprogram, and approve NSP3 activities to assist the County with the acquisition, rehabilitation, resale, rental and demolition of abandoned foreclosed homes and residential properties.
Background
The proposed amendments to the Prince George's County Neighborhood Stabilization Program Round 3 ("NSP3"): Substantial Amendment to the Annual Action Plan FY 2011contains provisions that will allow the Redevelopment Authority to more effectively address the number of vacant, foreclosed and abandoned properties in the NSP3 eligible census tracts, located in the Suitland/Coral Hills Transforming Neighborhood Initiative areas. This amendment reallocates of $750,000 from the "Buy Suitland" homeownership assistance budget to the "Green Suitland Acquisition and Rehabilitation" budget. It adds demolition of blighted structures as a program activity, and it allows flexibility to sell or rent rehabilitated properties. Additionally, it allows the Redevelopment Authority to competitively solicit additional development partners to assist with the implementation of the acquisition, rehabilitation, resale and rental activities.