Senators Stabenow, Peters and Congressman Kildee Announce Major Victory to Continue Blight Removal Efforts in Michigan
Michigan Received More From Hardest Hit Fund Than Any State in Latest Round; Michigan Has Received More Than $262 Million in New Funding This YearWednesday, April 20, 2016
U.S. Senator Debbie Stabenow (D-MI), U.S. Senator Gary Peters (D-MI) and Congressman Dan Kildee (D-MI), announced that Michigan will receive a $188.1 million award from the Hardest Hit Fund through the U.S. Department of Treasury. With today’s announcement, Michigan has received a total of $262.59 million this year to continue the revitalization of neighborhoods. Earlier this year, Michigan received $74.49 million from the Hardest Hit Fund.
The Hardest Hit Fund gives resources to states for blight removal and to help struggling homeowners. Late last year, Sens. Stabenow, Peters and Rep. Kildee led a major effort to give the Treasury Department flexibility to transfer $2 billion to the Hardest Hit Fund, which would have run out of funding this spring. The Treasury Department distributed the $2 billion Sens. Stabenow, Peters and Rep. Kildee helped secure in two separate rounds. Michigan received $74.49 million in the first round and will receive $188.1 million in today’s second round. Hardest Hit Fund awards are given to the Michigan State Housing Development Authority, which allocates funding to local communities.
“Today’s announcement is a major win for Michigan and the direct result of a hard-fought victory to secure this new funding last December,” said Senator Stabenow. “Michigan has been a national model for blight removal, which is making neighborhoods safer and spurring economic growth. Thanks to this new funding, and funding announced earlier this year, we can keep the momentum going.”
“Communities across Michigan have used the Hardest Hit Fund with great success to tackle blight and help revitalize their neighborhoods,” said Senator Peters. “This new round of funding will bolster efforts to remove blight and help attract new investments and development so Michigan communities can continue to recover and grow. I’m proud to have worked with Senator Stabenow and Congressman Kildee to ensure additional blight removal funding would be available to our communities in need of these vital resources.”
“Communities across Michigan will benefit greatly from this huge influx of federal funds,” Congressman Kildee said. “Removing blight raises property values for surrounding homeowners, decreases violent crime and unlocks greater opportunity for all families. Securing these funds has been a top priority and I look forward to seeing the real positive impact this initiative will have on neighborhoods across the state.”
The first $1 billion was automatically allocated to 18 states and the District of Columbia based on population size, need and how much previous Hardest Hit Fund awards had been drawn down. Based on this criteria, Michigan received $74.49 million.
The second $1 billion is being distributed to eligible states through a competitive application process. Michigan will receive $188.1 million, more than any other state in this competitive round.
Since 2010, Michigan has utilized $440.8 million from the Hardest Hit Fund to assist homeowners, remove blight, and support other efforts to revitalize neighborhoods.
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