After being denied in June, New Albany has atlast been awarded a little federal aid with a near $6.7 million revitalization grant announced by the Indiana Housing and Community Development Authority Thursday.
The grant will be used to acquire, rebuild and resale 40 houses in the S. Ellen Jones neighborhood that are currently in disrepair. Twenty of the rehabbed houses will be sold to first-time homebuyers with the priority to be selling those homes to low-to-moderate income families.
The grant, which is funded by the federal Neighborhood Stabilization Program and administered through the state, is worth nearly half of New Albany’s annual city budget.
“This is a major award for New Albany,” said State Rep. Ed Clere.
The application was prepared by Mayor Doug England’s administration and Clere pushed for its approval. The IHCDA board OK’d funding the full application.
Of the 83 communities and organizations that applied for stabilization funds in March, only 21 were awarded. More federal money was shifted into the program recently allowing three additional cities — New Albany, Elwood and Goshen — to receive grants.
There will also be a second round of federal stabilization grants that the state will award later this year.
Floyd County
New Albany receives $6.7 million federal grant for SEJ
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