Application for Neighborhood Stabilization Program 2 (NSP2) Funding from the Department of Housing and Urban Development for the Proposed Redevelopment of 123 Vacant, Blighted Units into Affordable Rental Housing

Alamo Area Mutual Housing Association (Alamo Area MHA) is submitting an application to the Department of Housing and Urban Development (HUD) for approximately $12M in Neighborhood Stabilization Program 2 (NSP2) funds for the redevelopment of a 123-unit vacant multi-family property.  The Target Geography for the proposed NSP2 activity is Census Tract 1717.00, which, according to HUD, has a Vacancy Risk Score of 19.

The proposed NSP2 activity will eliminate a blighted, vacant multi-family residential property from the Target Geography, and restore 123 affordable, high quality rental units for persons earning 50% and 60% of the Area Median Income (AMI).  The property will be redeveloped to meet LEED standards, complete with energy efficient and sustainable design elements.  The proposed activity will remove blight, help to stabilize and improve property values in the Target Geography, and ensure continued affordability in an area that has a significant need for affordable housing.

Alamo Area Mutual Housing Association has an exemplary track record of developing and managing affordable rental properties in the San Antonio Region.  Alamo Area MHA’s mission is to develop, acquire, own, and manage leased affordable housing in a community environment that promotes resident education, self-sufficiency, leadership, and volunteerism through successful partnerships.  Alamo Area MHA's goal is to create a community of choice and to empower its residents to be able to make choices that support their well-being.

Any individual, group, or agency wishing to comment on the project may submit written comments to: Stacy Kaplowitz via email at stacyk@mciver.com..  All comments received by July 15, 2009 will be included in NCBA’s application to HUD for NSP2 funding.  Alamo Area MHA will submit its NSP2 Application on July 17, 2009.

Alamo Area Mutual Housing Association develops and manages multi-family housing complexes with the goal of providing stable and affordable rents to individuals and families.

As a non-profit organization any revenue earned from the operation of the housing units is channeled back into the communities, and into the services and programs offered to its residents. Alamo Area Mutual Housing Association (AAMHA) has been locally, regionally and nationally recognized for the programs and services offered to both adult and children residents. These programs have been designed to ensure that no one is defined or limited by their financial situation, ethnicity, religious beliefs, physical abilities, age or other circumstances.

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